National Student Loan and Credit Report Debt Attorney

Mortgage Forgiveness Act Lives!

Mortgage Forgiveness Act Lives!
Rate this post

In our opinion, one of the only good things to come out of the fiscal cliff negotiations is an extension of the Mortgage Forgiveness Debt Relief Act.  As this article accurately describes, extension means that most homeowners will continue to be exempt from paying federal income tax on debt forgiven by lenders through foreclosure, short sale or loan modification.

There remains little to like about this fiscal cliff deal, but not further burdening homeowners who are struggling with mortgage debt is something.


Mortgage Forgiveness Act Lives! was last modified: March 8th, 2017 by Kevin Fallon McCarthy
The following two tabs change content below.
Kevin Fallon McCarthy is the McCarthy Law PLC’s managing attorney and an experienced Phoenix debt attorney. Mr. McCarthy has also worked as general counsel for a large corporation. He has corporate counsel experience in human resource matters, general corporate governance, and union class action litigation.
Call 855-976-5777 or Chat Now
  • How much do you owe?
    Select your approximate debt.
    Less debt
    More debt
  • The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.