mclean short sales: Mortgage Forgiveness Debt Relief Act of 2007 EXTENDED- Short Sale Now! - 01/10/13 11:21 PM
The Mortgage Forgiveness Debt Relief Act became law in 2007.  This offers relief to homeowners who would owe taxes on forgiven mortgage debt after facing foreclosure. The act extends such relief for three years which now has been extended another year but will end December 31, 2013.  
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
What does this mean to you?  If you are thinking about doing a short sale, do it soon, the earlier the better.  Some of these sales take 3-6 months to complete so if … (4 comments)