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Congress Will Not Renew Mortgage Debt Forgiveness Act Through 2017

114th Congress Adjourns Without Passing Tax-Extenders Some Background on the Mortgage Debt Relief Act The 2007 Mortgage Forgiveness Debt Relief Act allowed taxpayers to not include, as income, the discharge or forgiveness of debt on their principal residence. The debt that was forgiven or discharged through foreclosure, mortgage modification, a short sale or a deed […]

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Short Sales in New York and Westchester County

Why Is a Short Sale Better Than Losing Your Home in Foreclosure? To begin, a little background on short sales. A short sale is where a borrower or homeowner owes the bank more than the value of their home. There are still many areas where home prices have never rebounded from their 2005 and 2006 […]

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Short Sales In Decline

SHORT SALES ARE GETTING WORSE Over the last six months short sales have become much more difficult to close. I have been doing short sales for years and have never seen so many fall through over such a short period of time. While they have always been difficult, this has gone to a new level. […]

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