Mortgage Forgiveness Debt Relief Act was extended

By
Real Estate Agent with Red C Realty| Call 650-996-8961 CA DRE# 01468791

 

Mortgage Forgiveness Debt Relief Act was extended.

Mortgage Forgiveness Debt Relief Act extended, Short sale, San Francisco, San Mateo

 

Good news for a homeowner who were worried about paying tax after a short sale, if the short sale was not complete until December 31, 2012. Fortunately, the Congress has extended the Mortgage Forgiveness Debt Relief Act for another year.

Mortgage Forgiveness Debt Relief Act extended.

The extension of this new law will protect distress homeowner from paying huge tax bills on the amount of money forgive by the bank as a result of a short sale. I have three short sales in San Francisco and one in San Mateo waiting for bank approval.

 

Most for of delays occur by the interaction of the holidays and some due to buyers’ delays obtaining loan approval.

 

I wrote a letter our Congresswoman, Jackie Speier. She replayed to my letter saying that she was very confident the Congress will extend the Mortgage Forgiveness Debt Relief Act. I forwarded that letter to homeowners who were waiting for short sale approval from their banks, so they knew something was being done to get the Mortgage Forgiveness Debt Relief Act extended.  

 

Posted by

Mayra Espinosa Broker - Realtor

Mayra Espinosa-Realtor Broker Associate, Probate Certified, proudly Serving buyers and seller in Pacifica, San Bruno, Daly City, South San Francisco, Millbrae, San Mateo, Burlingame and all the San Francisco Peninsula communities

 

Mayra Espinosa
650-996-8961

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Websitehttps://sanmateopeninsulahomes.com 

1021 S. El Camino Real San Mateo, CA 94402

Red C Realty

Cell: 650-996-8961

 

 

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IMPORTANT NOTICE Realty One Group Alliance, Mayra Espinosa is/are not associated with the government, and it services have not been approved by the government or the consumer’s lender. Your lender or mortgage servicer may not agree to change your loan and/or agree to a Short Sale. If you stop paying your mortgage, you could lose your home and damage your credit rating. You can stop doing business with Realty One Group at any time. You can accept or reject any offer Realty One Group obtains from your lender. If you reject the offer, you do not have to pay the company’s real estate commission as outlined in the listing agreement. There is no guarantee you will get the results you seek from a short sale. Realty One Group does not provide Legal or Financial Advice. Please seek legal counsel. Should you hire Realty One Group you may still communicate with your own lender. Realty One Group will not charge upfront fees under any circumstances to the homeowner.

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Rainmaker
782,656
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

This is good news for those home owners that will sell short. Thanks for reporting

Jan 02, 2013 06:55 AM #1
Rainmaker
334,479
Mayra Espinosa Realtor San Mateo Pacifica Homes
Red C Realty| Call 650-996-8961 - San Mateo, CA
Pacifica -San Mateo,CA Real Estate agent, Buy,sell

Hello Dog,

 

The extension of this law will help some distress homeowner avoid paying taxes. I am glad it was extended. Thanks for readying! Happy New Year!

Jan 04, 2013 04:58 AM #2
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Rainmaker
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Mayra Espinosa Realtor San Mateo Pacifica Homes

Pacifica -San Mateo,CA Real Estate agent, Buy,sell
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