Bronzeville & Hyde Park Real Estate Blog - Chicago » mortgage forgiveness https://markkillion.com/blog always informative, occasionally interesting :) Tue, 07 Jan 2020 02:43:38 +0000 en-US hourly 1 http://wordpress.org/?v=3.5 Mortgage Forgiveness Act expires at the end of 2012 https://markkillion.com/blog/2011/12/mortgage-forgiveness-act-expires-at-the-end-of-2012/ https://markkillion.com/blog/2011/12/mortgage-forgiveness-act-expires-at-the-end-of-2012/#comments Thu, 22 Dec 2011 04:57:15 +0000 Mark Killion http://markkillion.com/blog/?p=248 Continue reading →]]> FYI: The Mortgage Forgiveness Debt Relief Act Expires in 2012…

If you are thinking about selling your primary residence,
and you are upside-down in your mortgage, do it in 2012
or forever hold your peace…after this act expires, the
forgiven debt will be viewed as taxable income (doh!)

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