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Jonathan Dalton
ePro, SFR

Mortgage Forgiveness Act

2007 Mortgage Forgiveness Debt Relieft Act Gets Extended

In the wee hours of the night in Washington, the House of Representatives voted to maintain the status quo as it had been a mere 22 hours earlier. Skipping happily past the pitfalls of political debate here, one helpful part of the status quo was the extension of the Mortgage Forgiveness Act, which had helped protect homeowners who need to sell via a short sale from being hammered for phantom taxable income. Whether this really matters here in Arizona is debatable, regardless of what you may read elsewhere. In theory, since this is a non-recourse state (your primary lender can’t […]

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