Despite some positive signs of recovery, our nations’ real estate market is still fragile. Over a quarter of all transactions still involve a distressed property. That’s why you must take action now and tell Congress to extend Mortgage Forgiveness Tax Relief.
Without an extension, families engaged in a loan modification, short sale, or foreclosure would face a big tax bill. Neither consumers or the housing market need that added burden. Homeowners shouldn’t be forced to pay a tax on money they’ve already lost with cash they never received. Please tell Congress to extend Mortgage Forgiveness Tax Relief. I urge you to ask your party leaders to work together to move a tax extenders package to the floor before the end of the year. Sincerely, Patty McMillen