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Mortgage Forgiveness Debt Relief Act

Mortgage Forgiveness Debt Relief Act

Hello Everyone,

 

I thought I would share this information below….please feel free to let me know if you have any questions.

 

They did finally pass the Tax Extenders legislation of which the Mortgage Forgiveness Debt Relief Act tax credit was a part.

 

HOWEVER – they were only able to extend it for the calendar year 2014 under threat of veto for a two year extension.

 

This means that the law will expire in roughly two weeks.  Sales that occurred in 2014 will have the credit available to use.  Sales that happen after the 1st of the year will be in limbo again.

 

On the positive side, Orin Hatch will be in charge of the committee for this with the new Congress and I expect that they will certainly extend it for 2015 and maybe longer.  The kicker is that it will likely be a while before we know for sure, and there is always the threat of veto if the Republicans try for too much.

Mortgage Forgiveness Debt Relief Act

 

Mortgage Forgiveness Debt Relief Act, short sales ,Home for sale, Houses for sale az homes Glendale Az Real Estate 

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Over the years, Keith has had the opportunity to experience the ins and outs of the marketplace. Under these circumstances, He has helped many satisfied clients make successful transitions under some of the most difficult circumstances. Keith has always been a compassionate person, and thus has developed a deeper understanding of how emotional the home selling and buying process can be. 

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2 commentsKeith Ritter • December 22 2014 06:44AM
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