Virginia Short Sale Advice

Month: February 2015

Total 4 Posts

Insolvency Clause Tax-Saving Alternative to Mortgage Forgiveness Debt Relief Act in 2015

On December 16, 2014, President Obama signed a bill that extended the Mortgage Forgiveness Debt Relief Act retroactively to cover mortgage debt cancelled in 2014. The Mortgage Forgiveness Debt Relief Act (MFDRA) prevented homeowners who went through a short sale from being taxed on the amount of their home mortgage debt that had been forgiven. For homeowners to

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