Yellow Pages |   News Updates |   Events Calendar |   Movie Times | Recycling  |   Document Shredding
Rocklin & Roseville Today Events
Celebrating Life...
HOME

Mortgage Debt Forgiveness Relief Extended




Late Tuesday night, Congress reached a settlement in the "fiscal cliff" negotiations.  As a result, the Mortgage Forgiveness Debt Relief Act has been extended for another year.  The measure will continue to exempt from taxation mortgage debt that is forgiven when homeowners and their mortgage lenders negotiate a short sale, loan modification (including any principal reduction), or foreclosure. 

The extension is great news for homeowners as it was one of the attractive features of completing short sales.  Qualified homeowners, on their principal residence, will continue to be excused from paying taxes on forgiven mortgage debt through 2013.   Please keep in mind that homeowners should always consult their tax advisor so they can evaluate their personal situation and understand their tax payments. 

Over the past few months we have seen short sale listings decline and more financially strapped homeowners letting their homes go to foreclosure.  The extension of the Mortgage Forgiveness Debt Relief Act will provide a much needed alternative, of a short sale, which will avoid foreclosure and be less harmful to the credit history. 

If you or someone you know is considering selling a home which is currently valued at less than the mortgage debt, we would be happy to answer any questions you have.  I can be reached at the MagnumOne Realty office in Roseville (916-899-6571) or by email to JulieJ@Jalone.com.



About Realtor Julie Jalone


Julie Jalone, wife and mother living in Rocklin, is an experienced professional Realtor ® serving
the Greater Sacramento area including Placer, El Dorado, Yolo and Yuba counties.

Julie may be reached online at www.jalone.com or by calling (916) 276-6883
Check out her daily web blog: Keep it Real in Sacramento


Placer County News Headlines

Buying a Home is Still Better Than RentingRoseville, CA-- Home prices continue to rise faster than incomes and new employment, but it is still more cost efficient to own a home than to rent.

Sierra College Roseville Center Open House TodayRoseville, CA - Sierra College invites the public to see its state-of-the-art classrooms and facilities at the new Roseville Center location in the heart of Roseville's Town Square

Parking Fees being levied at Hidden FallsAUBURN, Calif. -- Placer County's Hidden Falls Regional Park in North Auburn is a gem of a park. Unfortunately, parking can be hard to find, especially during weekends

$22.5 Million Approved for Placer County BuildingsAUBURN, Calif. -- Placer County Board of Supervisors approve an investment plan that will allocate a minimum of $4.5 million annually over the next five years

Placer SPCA Sees Success in Waiving Adoption FeesRoseville, Calif. - Adoption fees are waived for all animals, without exception, at the Placer SPCA during the month of August for its "full hearts, empty kennels" campaign

Classic Car Show in Grass Valley August 25(Grass Valley, CA) Cascades of Grass Valley, a senior living community located at 415 Sierra College Drive in Grass Valley, will be hosting a classic car show on Friday, August 25

Warriors Set to Start 2017 Volleyball CampaignROCKLIN, Calif. - The William Jessup women's volleyball team will start the season this week hosting the Warrior Invitational

Podcasts for Fundraising Professionals and DonorsWith that goal in mind, Eric Hogue and David Pineschi of William Jessup University are regularly producing light-hearted podcasts each month

Mono County Events for Scenic Adventure SeekersMONO COUNTY, Calif. - After record-setting snowfall that refilled lakes and rivers, leaving glistening snow on high peaks and meadows below

Lowest Reported Gas Prices in RosevilleRoseville, CA- Gas prices in Roseville and Rocklin are holding relatively steady as residents shift from summer vacations back to school and work

WJU Volleyball signs Isabella MauricioROCKLIN, Calif. - The women's volleyball head coach, Shasta Millhollin announced the signing of Isabella Mauricio from Foster City, Calif. to the 2017-18 roster.

Foam Fest Craft Beer and Live Music Festival[Olympic Valley, Calif.] - Achieve Tahoe (formerly Disabled Sports USA Far West) will host its 28th annual "Foam Fest" fundraising event


NEWS: In Case You Missed It