Obama gets an A+ for doing the ONE positive move I can support since he became president; he signed the Mortgage Tax Relief Act a few weeks after the Senate sent it to the Oval Office in December, 2014.
This Act will prevent the IRS from taxing "phantom income" for short sale sellers. It was the equvalent of trying to get blood out of a rock!
As an added bonus the FHA is lowering its mortgage insurance premium (MIP) a half of a point in late January, 2015.
This is great news to millions of FHA loan borrowers who will be paying out less in monthly payments.
A shot needed in the arm for real estate recovery.
Comments(0)