Tax implications are very important to consider due to possible expiration of current law for Mortgage Debt Forgiveness

December 23, 2013

Coakley, U.S. Attorneys General Push Congress To Extend Mortgage Forgiveness Tax Relief Act

- See http://www.bankerandtradesman.com/news157832.html

12/20/13 article - rental properties NOT eligible
http://articles.chicagotribune.com/2013-12-20/classified/sc-cons-1219-housing-counsel-20131220_1_phantom-income-mortgage-debt-relief-act-canceled-debt

11/20/13 article: lender Settlement won't help many people
" if a 2012 settlement that included similar terms is any guide, the number of homeowners who will benefit from the most valuable aid available under the settlement -- the forgiveness of mortgage debt, also known as principal reduction -- will be quite small -- about 10,000 borrowers"
http://www.huffingtonpost.com/2013/11/20/jpmorgan-chase-settlement_n_4309511.html

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Mortgage Principal Reduction NEWS

Coakley, U.S. Attorneys General Push Congress To Extend Mortgage Forgiveness Tax Relief Act