DID YOU KNOW? THE MORTGAGE FORGIVENESS AND DEBT RELIEF

The Mortgage Forgiveness and Debt Relief Act was passed by Congress in 2007 to protect people who lost their homes to foreclosure during the real estate bust.  The act protected people against claims from unpaid income taxes.  Initially given a 5 year term, the act has been extended several times as homes in markets across the US remained well below peak values.  But the latest extension expired in 2016 and efforts to pass a more permanent solution have not yet been successful.  So what are the next steps to address this problem?

 

Keith Kaplan

CalBRE #01933707
Sothebys International Realty
9255 Sunset Blvd.
West Hollywood, CA   90069

keith.kaplan@sothebyshomes.com

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