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Mortgage Tax Forgiveness Act Of 2007 Extended For 2013

January 15, 2013 by · Leave a Comment 

Yes it is true. Under CERTAIN instances, you may have a short sale or foreclosure and not incur the tax on the amount of mortgage debt that was forgiven. NOT everyone can qualify. For those that can, what a relief. Tucked in the Fiscal Cliff negotiations was this provision. So, you still have one more year. If this is something that you’d like to discuss as it may relate to your situation, please give me a call.


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