Parkway Estate Properties
Roman Shersher

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Struggling homeowners who are considering a short sale or modification will be eligible for tax relief in 2013.

The “fiscal cliff bill” passed by Congress on January 1 included a provision to exclude borrowers from paying taxes on debt forgiven through a short sale, foreclosure, or loan modification.

Known as Mortgage Debt Relief Act of 2007, the act was scheduled to expire December 31, 2012, but received an extension for another year.




To view this article, please go to
:
 http://www.dsnews.com/articles/mortgage-debt-relief-act-to-see-another-year-2013-01-02

 

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