The Mortgage Forgiveness Debt Relief Act Extended

San Diego Short Sale Solutions Remain in tact for 2013

An extension of The Mortgage Forgiveness Debt Relief Act was included in the recent avoidance of the so-called “fiscal cliff”. This is huge news for San Diego Homeowners considering Short Sale, in the middle of a Short Sale Negotiation, or close to finalizing a Short Sale.

The relief act that allows the tax burden of both foreclosures and short sales to be forgiven was set to expire on December 31, 2012. But the proposed extension will last until December 31, 2013.

Even thought this is good news, it doesn’t make sense to “wait out the market” because the extension isn’t guaranteed. We suggest that you take the first step and find out if your home is an asset or underwater by using our Short Sale Calculator. (coming soon!, call or email me for 1-on-1 Free Short Sale Consultation)