The Mortgage Forgiveness Debt Relief Act established in 2007 may soon be the mere act of Houdini. As it stands now it is set to expire in 10 months. The purpose of this Act was to provide the opportunity for homeowners who received principal reductions on the mortgage as a direct result of a short sale, foreclosure or loan modification to avoid being taxed on the income of the amount forgiven. Know your options. Contact Tampa Bay Home Connection to provide you with the most accurate and updated real estate knowledge.
For all your real estate needs contact Beverly at (813) 625-8795 or email at Beverly@YOURTBHC.com
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