Short sale tax break signed into law

December 29, 2014 – “Homeowners who had short sales in 2014 can now breathe a giant sigh of relief, as the Mortgage Debt Forgiveness Act was signed into law by President Barack Obama.

Under the Mortgage Debt Forgiveness Act, any mortgage forgiveness achieved in a short sale is not counted as income for homeowners whom banks allowed to sell their homes for less than the amount of their mortgage.

The Act was due to expire in 2014, but was extended by recent votes in Congress.” – Ben Lane, Housingwire.

Read the rest of the article here:  http://www.housingwire.com/articles/32456-short-sale-tax-break-signed-into-law

December 2014 Issue of “In the News”

Are we grinding toward prosperity?  That’s the question we address in the December issue of In the News.  Read more from Fannie Mae’s chief economist and other real estate experts.

Let me know what questions are on your mind; and what you are seeing in the news.  Share your thoughts on our blog.

And, most importantly, … Happy Holidays to all!

Frank Pellegrini

Here’s the November Issue of “In the News!”

In the November issue of In the News, we explore communicating in the modern age.  We also feature links to several news stories about the housing market and the CFPB’s integrated mortgage disclosure rules.  I hope you enjoy reading In the News!

You will also find In the News on our blog.  Please submit your thoughts and comments; we can have a great discussion.

The October Issue of “In the News” is Out

In the October issue of In the News we ask the question, “Where are the Millennials?” There’s hope on the horizon that younger Americans will get more involved in the real estate market.  I hope you enjoy reading the latest issue and feel free to submit your thoughts and comments on our blog.  We can have a great discussion! 

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