Homeowners with Foreclosures and Short Sales Could See a Tax Increase in 50 Days!

If the Debt Relief Act of 2007 is not extended, 2013 could be a very Unhappy New Year for homeowners who have foreclosures and short sales! New headlines are warning of a financial cliff that is approaching with the end of 2012, and the real estate industry will be hit particularly hard! It’s the expiration of the Mortgage Forgiveness Debt Relief Act of 2007. The Mortgage Forgiveness Debt Relief Act of 2007 was enacted on Dec. 20, 2007. The Act...

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