Still needs approval by the House: One-year extension of tax free mortgage debt forgiveness & extension of mortgage insurance premiums

January 2, 2013 in STOP FORECLOSURE FRAUD

UPDATE: As expected, Congress extended the mortgage debt forgiveness tax provision for one year, removing a roadblock for short sales. H/T Nick Timiraos

One-year extension of tax free mortgage debt forgiveness in fiscal cliff bill (Senate Amendment to HR8) last night. See section 202. Also, see section 204 re. extension of mortgage insurance premiums treated as qualified residence interest (retroactively from 12/31/11 through 12/31/13.