Monday, May 19, 2014

Mortgage Forgiveness Debt Relief Act Hud Closing Date Extension

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New Law SB 458 Prohibits Deficiencies On California Short Sales
They are closing a transaction that may or may not be in compliance with state Banks do send them but the 2007 Mortgage Forgiveness Debt Relief act offers a way out, as might your state laws The mortgage debt forgiveness extension has not yet passed the House. October 11 ... Read Article

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Foreclosure And Short Sale Taxes - Home Buying And Selling ...
A temporary fix, called the Mortgage Forgiveness Debt Relief Act of 2007, provides relief from debt forgiveness taxation for certain owner occupants until December 31, 2012. Call your lawyer to determine if you are exempt from taxation. ... Read Article

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Qualifying Short Sales - About.com Home Buying / Selling
It is possible to have a short sale if your mortgage balance matches the sales price because there are still closing costs that will throw the sale into "short" territory. Many situations are exempt from debt forgiveness, according to the Mortgage Forgiveness Debt Relief Act of 2007. ... Read Article

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