We are happy to report some good news on the mortgage front! The Mortgage Forgiveness Debt Relief Act has been extended through December 31, 2013. Congress recently passed a bill called The American Taxpayer Relief Act of 2012 that extends dozens of tax cuts. What does this mean for you?
If you've found yourself drowning in mortgage debt, you still have a chance to do something about it. This Act allows homeowners to have their debt forgiven through a short sale or a loan modification without being taxed as income.
For a full list of all the tax extensions, visit this website.
If you are worried that your mortgage is becoming too burdensome, you can take other measures to relieve your household. Call Quest Loans for information on refinancing your current mortgage. The mortgage rates are low! 888-883-5252
Tuesday, January 8, 2013
The Mortgage Relief Act Extended One Year!
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