Mortgage Debt Relief Act Info!

Mortgage Forgiveness Debt Relief Act of 2007

Placer Title Company of Redding was nice enough to bring by a flyer on the newly passed “Mortgage Forgiveness Debt Relief Act of 2007”.  For those home owners out there that either have or are getting ready to face a mortgage rate increase due to an adjustable rate mortgage you will want to get more information on this program.  On December 20, 2007, President Bush signed this act into law which gretly reduces the negative tax implications of a short sale if the debt being forgiven meets certain criteria.  The new act will increase the incentive for borrowers and lenders to work together to refinance loans and allow American families to secure lower mortgage payments without facing higher taxes. Click the image below to view the flyer.

mortgageforgivenessact.jpg (727376 bytes)

For more information about H.R. 3648, visit www.whitehouse.gov or www.govtracks.us.

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One thought on “Mortgage Debt Relief Act Info!

  1. I found your site on technorati and read a few of your other posts. Keep up the good work. I just added your RSS feed to my Google News Reader. Looking forward to reading more from you.

    Mike Harmon

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