Education

Education


**NAR has released a Call for Action on the Mortgage Debt Forgiveness Tax Relief.**

 

“The income tax exemption on mortgage debt forgiven in a short sale or a workout for principal residences expired at the end of 2013.  Without immediate action by Congress, distressed homeowners will have to pay tax on “phantom income” from forgiven debt.  Many families have decided not to go through with short sales or seek workouts because of the uncertainty over the status of the waiver.  This is not only unfair but harms families, neighborhoods and communities.  Please urge your representative and senators in Congress to extend this tax relief now.”

 

We encourage you to take part in this!!  Below is the link;

https://realtorparty.realtoractioncenter.com/site/Advocacy?cmd=display&page=UserAction&id=3381&utm_source=rac&utm_medium=website&utm_campaign=taxRelief2014

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