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Mortgage Forgiveness Debt Relief Act

The Mortgage Forgiveness Debt Relief Act of 2007
President Bush signed the Mortgage Forgiveness Debt Relief Act of 2007, which will help Americans avoid foreclosure by protecting families from higher taxes when they refinance their home mortgages. This Act will create a three-year window for homeowners to refinance their mortgage and pay no taxes on any debt forgiveness that they receive. Under current law, if the value of your house declines, and your bank or lender forgives a portion of your mortgage, the tax code treats the amount forgiven as income that can be taxed.
@ White House | Posted: 12/31/07 at 0320 EST


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Glenn G. Fradera

Phone: (561) 450-5449
Home: (954) 415-3526
Cell: (954) 439-4184
Fax:(561) 495-5227
taynos52@gmail.com
 

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Glenn G. Fradera   |   Sunshine Properties   |   4997B W. Atlantic Ave., Delray Beach, FL 33445
Phone: (561) 450-5449   |   Home: (954) 415-3526   |   Cell: (954) 439-4184   |   Fax:(561) 495-5227
taynos52@gmail.com   |   taynos52@icloud,com   |   taynos@aol.com
Copyright © 2016, Sunshine Properties, All Rights Reserved.

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