DEBT FORGIVENESS ACT EXPIRES AT THE END 2012. YOU MUST ACT NOW!
Post date: Jul 25, 2012 6:13:38 AM
The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a SHORT SALE or foreclosure, qualifies for the relief.
How long is this special relief in effect?
It applies to qualified principal residence indebtedness forgiven in calendar years 2007 through 2012.
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Our short sale guarantee is your right to opt of the short sale process at any time. No questions asked, no cost to you.