Mortgage Debt Relief Act

Hope everyone had a productive week so far. I didnt see anyone start a thread and ask so I was curious what everyones thoughts were on the releif act ending this year?

Any trends, adjustments you guys thinking about?

Views: 389

▶ Reply to This

Replies to This Discussion

Permalink Reply by Kevin - Greenville, SC on January 16, 2012 at 7:41pm
Permalink Reply by Bryant Tutas on January 17, 2012 at 12:51am

This is a taxable event. Therefore the event has to take place in the tax year. The transaction has to be closed in 2012. The latest date on the closing HUD would need to be 12-31-2012.

Permalink Reply by Paul Jones on January 17, 2012 at 2:40am

exactly. it's being talked about in this thread but very odd that no discussion in the news. this is huge yet not a peep about it anywhere. i actually mentioned it in another post and thats probably the only reason its even being discussed here.

Permalink Reply by Eric Mieles on January 17, 2012 at 2:52am
Actually PauL It had hit me and I did a search past Christmas and didn't see anything on it. So I decided to get a feel for whT the community was thinking as well as get some insight on what changes some might make in there business.
Permalink Reply by Kimberley Kelly on January 17, 2012 at 4:07am

Hope it gets extended.  Otherwise..more foreclosures are coming here in Southern California.  Riverside County where Palm Springs and La Quinta are located was smashed with the housing crash.  We're finally seeing some stability..now is not the time to cut any type of help for people with underwater mortgages.  Fingers crossed.

RSS

Members

© 2024   Created by Short Sale Superstars LLC.   Powered by

Badges  |  Report an Issue  |  Terms of Service

********************************** like buttons ************************