House EXTENDS Mortgage Debt Forgiveness Act!!

House EXTENDS Mortgage Debt Forgiveness Act!!

 

EXCITEDIf you work in Short Sales in Massachusetts and New Hampshire as much as we do, you know this is GREAT news.  I wish they had extended it until the end of 2015, but the fact that it was an OVERWHELMING vote is very positive.  I don’t see how this won’t pass in the senate.

The one-year retroactive renewal, which passed by a 378-46 vote, includes heavily lobbied business breaks like those for corporate research, wind production, renewable fuels, corporate expensing and expanded depreciation schedules. It also includes tax breaks for individuals including a deduction for mortgage debt forgiveness, a break for state and local sales taxes paid as well as breaks for teachers and commuters.

Read more: http://www.politico.com/story/2014/12/house-vote-renew-tax-extender-breaks-113306.html#ixzz3Kw7PcORJThis directly affects a homeowners tax ramifications on primary owned short sales.

I’m very happy to report this today.
Massachusetts short sale negotiation – Short Sale Mitigation, LLC
New Hampshire short sale negotiation – AA Premier Properties, LLC

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