The income tax exemption on mortgage debt forgiven in a short sale or a workout for principal residences expired at the end of 2013.
Boost your business and increase your salary by earning an official NAR designation or certification. To celebrate Designation Awareness Month, all online designation and certification courses at REALTOR® University are 20% off in November.
The Environmental Protection Agency (EPA) and the U.S. Army Corps of Engineers (The Corps) have issued a proposed rulemaking that redefines most water bodies as "waters of the U.S.,” which is a fundamental change to the Clean Water Act. If promulgated, this proposed regulation would place more water bodies under the authority of the EPA and the Corps, which would result in more time consuming and expensive permits, regulatory red tape, and less economic development in communities across the country.
The purpose of this fact sheet and suggested voluntary guidelines is to increase real estate professionals’ awareness, knowledge, and understanding of the potential money laundering risks surrounding real estate and enable them to identify practical measures to mitigate the risks.
On November 25th, 2014, FHFA Director Mel Watt announced that he would be directing the GSEs to alter REO policies that would allow all qualified buyers to purchase current Fannie Mae or Freddie Mac REO inventory at market value.