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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, Thanks for all your help in making our "dream home" a reality. We really appreciated that you went the extra mile to get us the best price for our home. You are truly a professional. Gary & Diane, Delray Beach Florida, Florida
In all our dealings with Realtors over the past ten years, we have never met anyone as helpful and energetic as you have been. Without hesitation, we would highly recommend your service to anyone who is looking for an experienced Realtor who cares about getting things done and doing them right! Thanks for taking such good care of us, we couldn't have done it without you! Bryan & Yvonne Carpenter, Delray Beach Florida, Florida
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