Mortgage Forgiveness Debt Relief Act, A Saving Grace

Because of the Mortgage Forgiveness Debt Relief Act many homeowners facing a Shortsale, Forclosure or Bankrupcy on their homes have at least the elimination of the tax which would be known as the ghost income or phantom income from 1099 form and which may have accured based on the final sale. This Law is to expire
Dec. 2012, but may be extended and most likely should be.

New Year's Resolution: Get Out of Your Underwater Home ...
12/27/11
With surges in home foreclosures and the upcoming expiration of the Mortgage Forgiveness Debt Relief Act, homeowners need to ask themselves: Do I continue to pay my mortgage when I'm so far upside down, or can I even ...
ikely will.

Thanks To The Mortgage Forgiveness Debt Relief Act Your Short ...
12/27/11
Thanks To The Mortgage Forgiveness Debt Relief Act Your Short Sale May Be Extremely Inexpensive. Short Sale Shift. Hello everyone my name is Josh Pomerleau with Short Sale Shift, Minnesota's premiere short sale staff, ...

YouWalkAway.com Survey Finds Expiring Debt Relief Act Fueling ...
12/17/11
The Mortgage Debt Relief Act relieves former homeowners of their obligation to pay taxes on the difference between their loan amount and the amount their property fetches through short sale or at auction after foreclosure. ...

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