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Mortgage Forgiveness Debt Relief Act has been Extended! Wellington FL

By
Real Estate Agent with Hansen Real Estate Group Inc.

Mortgage Forgiveness Debt Relief Act has been Extended!

The Mortgage Forgiveness Debt Relief Act has been extended another year until January 1st, 2014! For those unfamiliar with the Mortgage Forgiveness Debt Relief Act it is a provision that prevents homeowners from having to pay income taxes on the portion of their mortgage that is forgiven in a short sale, principal reduction or foreclosure. This is great news for Wellington homeowners who need to do a short sale.

Mortgage Forgiveness Debt Relief Act has been Extended! Wellington Short Sale SellersIf you are considering short selling your Wellington home contact us today! To learn more about Wellington short sales visit: Wellington Short Sale Q & A

Take a sneak peek at our comprehensive marketing plan that is sure to get your Wellington home SOLD! Wellington Short Sale Marketing Plan

For more information about the Mortgage Forgiveness Debt Relief Act visit:
http://www.irs.gov/Individuals/The-Mortgage-Forgiveness-Debt-Relief-Act-and-Debt-Cancellation


Originally posted at http://wellingtonhometeam.com/mortgage-forgiveness-debt-relief-act-extended-for-one-year/


Posted by
About the Author:
Michelle Gibson is a full-time Realtor with the Hansen Real Estate Group Inc. She has been specializing in residential real estate throughout Palm Beach County Florida since 2001. Specific areas of expertise include; Wellington, Lake Worth, Royal Palm Beach, West Palm Beach, Boynton Beach, Loxahatchee, Greenacres, Lake Clarke Shores, Palm Beach Gardens, Jupiter, Delray Beach, and Jupiter.
 
Whether you're looking to buy, sell or rent Michelle will be able to walk you through your entire real estate transaction from start to finish.
 
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Show All Comments
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Michelle

Extending the Mortgage Forgiveness Debt Relief act until 2014 is a step in the right direction for the housing market.

Good Luck and success.

Lou Ludwig

Jan 05, 2013 10:15 AM
The Brewer Team - Benchmark Realty
Benchmark Realty - Franklin, TN

Michelle - this is something that shouldn't have to be done. It doesn't make sense that you would have to pay taxes on a big loss. Our tax policies need to be rewritten immediately.

Jan 05, 2013 10:55 AM
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

This is great news for Wellington short sellers as well as everyone considering a short sale.  It is a huge relief for the housing market as a whole.

Jan 05, 2013 11:21 AM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Great news for those contemplating a short sale on their primary residence (or their primary residence within the past two years),

Jan 05, 2013 08:44 PM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hi Michelle - you're right this is excellent news for distressed homeowners. 

Jan 06, 2013 01:25 AM
Shannon Milligan, Richmond VA Real Estate Agent/Associate Broker
RVA Home Team - Richmond, VA
RVA Home Team - Winning with Integrity.

Glad to see this was extended. Anyone thinking about doing a short sale in Wellington Florida should call Michelle Gibson, Wellington Florida Realtor.

Jan 06, 2013 04:04 AM
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

I obviously agree with all of your comments, this was great news.

Jan 19, 2013 08:18 AM
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