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Lapsing of the Mortgage Forgiveness Debt Relief Act has Major Implications for Distressed Homeowners

Our government’s decision not to extend the Mortgage Forgiveness Debt Relief Act has some costly implications for underwater homeowners and those dealing with foreclosure. This article from the Washington Post outlines the effects of the lapse. If you have questions about what this means to you, we’d be happy to answer them.

http://www.washingtonpost.com/business/economy/distressed-homeowners-seeking-mortgage-relief-could-get-stuck-with-higher-taxes/2014/04/11/ba3d7498-be6b-11e3-b195-dd0c1174052c_story.html?wpisrc=nl_wonk 

 

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