[T]hrough the Mortgage Debt Relief Act of 2007, homeowners get a break from paying taxes on their forgiven debt – whether it was forgiven through a short sale, foreclosure, or a modification. The act though, is set to expire at the end of this year.
Thursday, May 3, 2012
What is the Mortgage Debt Relief Act?
It's set to expire, but some legislators are working to extend the 2007 act. DSNews.com has more.
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