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Updated about 11 years ago on . Most recent reply

Jerry Kisasonak's profile image
Jerry Kisasonak's profile image
Jerry Kisasonak
  • Residential Real Estate Agent
  • from Mc Keesport, Pennsylvania
  • Member since May 14, 2012
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449
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Jerry Kisasonak's profile image
Jerry Kisasonak's profile image
Jerry Kisasonak
  • Residential Real Estate Agent
  • from Mc Keesport, Pennsylvania
  • Member since May 14, 2012
Connect
Jerry Kisasonak
  • Residential Real Estate Agent
  • Mc Keesport, PA
153
Votes |
449
Posts
Tax, SDIRAs & Cost Segregation

Mortgage Debt Relief Act Expiring in 2014?

Jerry Kisasonak
  • Residential Real Estate Agent
  • Mc Keesport, PA
Posted

I've heard that this Act is set to expire at the end of the year. The Act allows people who are foreclosed on or who do a short sale to not have to pay taxes on the forgiven debt. If this Act does in fact expire, this is going to be a huge disincentive for home owners NOT to walk away from their homes.

What would this translate into for investors? I see many more seller saying yes to sub2 deals.

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