Posts tagged "Income taxes"

Mortgage Forgiveness Debt Relief Act Saved In Fiscal Cliff Deal

Mortgage Forgiveness Debt Relief Act Saved In Fiscal Cliff Deal
Best I can tell the Mortgage Forgiveness Debt Relief Act, which prevents underwater homeowners from having to pay income tax on the phantom income generated when their mortgage lender forgives a portion of their mortgage, was extended as part of the fiscal cliff deal that was approved by the house of representatives last night. Originally,... Read more »

Mortgage Forgiveness Debt Relief Act Not Likely To Fall Off Fiscal Cliff

Mortgage Forgiveness Debt Relief Act Not Likely To Fall Off Fiscal Cliff
Back in September I warned about the impending doom awaiting unsuspecting short sellers if they didn’t complete their short sales by the end of the year because the Mortgage Forgiveness Debt Relief Act is set to expire at the end of the year along with many other tax preferences. It’s all part of the fiscal... Read more »
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