Congress Needs to Extend the Mortgage Forgiveness Debt Relief Act Before it is Too Late

Unless a key law is extended by the end of the year, anyone who conducts a short sale after the end of 2012 may be subject to tax liabilities on the forgiven mortgage debt.

By Michel Kraus

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Palm Coast, FL – April 2, 2012

Those who are considering a short sale may want to do it sooner rather than later.  Unless a key law is extended by the end of the year, anyone who conducts a short sale after the end of 2012 may be subject to tax liabilities on the forgiven mortgage debt.

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