Mortgage Debt Forgiveness Act Extended
The Mortgage debt forgiven act has been extended as part of the 2012 fiscal cliff last minute resolution in the Federal Government. This is great news if you owe more than your house is worth and are having trouble making your payments. This means for the rest of 2013 if you short sale your house and the bank forgives the debt you won’t have to pay taxes on the forgiven debt. The Little group is highly trained in helping people avoid foreclosure by negotiating short sales with their banks which allows them to save their credit, move on with their lives, and in many cases buy a home again in 3 years. Hey, why not start over fresh?