Tag Archives: Mortgage debt forgiveness

New Law Extends Mortgage Forgiveness Debt Relief Act

New U.S. Law signed by the President on January 1, 2013 extends certain provisions of the Mortgage Forgiveness Debt Relief Act through the U.S. American Taxpayer Relief Act of 2012 until December 31, 2013. This Mortgage Forgiveness debt relief act … Continue reading

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New CA Anti-Deficiency Law to Protect Homeowners Who Refinance Purchase Money Loans

Purchase money loans in CA are those used by home buyers to finance original buying of the home. Current CA anti-deficiency law protects a borrower from personal liability for the difference between the principal balance and what the lender receives at … Continue reading

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Mortgage Debt Forgiveness Tax Relief by U.S. Law Set to Expire at End of This Year 2012

U.S. law – Mortgage Forgiveness Debt Relief Act of 2007 – applies to debt forgiven in calendar years 2007 through 2012 – including possible debt forgiven through SHORT SALE process. For purposes of income tax, this law allows for exclusion of income realized as … Continue reading

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