Mortgage Debt Cancellation Relief
NAR supports an exclusion from taxation of the "phantom income" generated when all or a portion of a mortgage loan is forgiven.
NAR provides answers to common questions about mortgage debt cancellation.
On Jan. 1 both the Senate and House passed H.R. 8, legislation to avert the “fiscal cliff.” The bill was signed into law by President Barack Obama on Jan. 2.
"For many Americans, housing is still a crisis, and they are anxiously waiting for solutions," RE/MAX chairman Dave Liniger wrote to the presidential candidates.
Short sales are growing in popularity, but that may soon change. The Mortgage Forgiveness Debt Relief Act and Debt Cancellation is expiring at the end of the year, which could make more home owners think twice about doing a short sale.