yellow pages news jobs events calendar movie times
Rocklin and Roseville Today Events Calendar
   |   Current Temp: 84.0 F (28.9 C)
 

Mortgage Debt Forgiveness Relief Extended


Share It.




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.






more news Print This Article


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

Autism in Girls Study Launched in CaliforniaAutism is far more common in boys than girls - affecting 1 in 54 boys and 1 in 252 girls - but little is known about biological differences between boys and girls with autism.

Sierra Shoot Out Water Polo Tournament in RocklinThe Sierra Shoot Out Water Polo tournament is back for another year at Sierra College. The junior college has hosted this high school tournament for over 20 years

What is Slowing the California Housing Recovery?Realtor, Julie Jalone of MagnumOne Realty in Roseville, writes about why the California and Sacramento housing markets are not expanding as fast as expected. Find out what Julie thinks is contributing to a slower real estate market.

Circus Vargas in Roseville this September Roseville,CA -- Get ready for the ultimate entertainment extravaganza for all ages as the circus comes to Roseville.

Hot Pink Fun Run in Downtown Roseville September 28thRegistration is now open for the 7th Annual Hot Pink Fun Run, a family-friendly run, walk and fun zone on Sunday, September 28, 2014.

Monty Python's Spamalot at Roseville TheaterSPAMALOT tells the legendary tale of King Arthur's quest to find the Holy Grail. However, diverting a bit from the true story, this hilarious musical

High Marks for Sierra College Energy Tech StudentsThe Sierra College Energy Technology students who took the North American Board of Certified Energy Practitioners Entry-level exam in June 2014, all passed.

Multiple Sclerosis Becomes Counselor's AssetDuring most of the '70s, Kathe Skinner, now a 65-year-old licensed marriage family therapist in Colorado Springs, Colorado, couldn't figure out what was wrong with her body.

Placer Water Agency Eyes $7 Billion Bond OpportunityFunding for water resource improvements in Placer County could be possible if California voters support the $7.12 billion bond issue on the Nov. 4 ballot, it was

Napa Earthquake Victims Urged to Hire Licensed ContractorsEarthquake: The Contractors State License Board (CSLB) is urging residents of Napa Valley and surrounding areas to only hire California-licensed contractors

8 Arrested in Roseville Police Drug and ID Theft OperationRoseville Police detectives, following up on a Roseville drug case, searched a home in Sacramento and found evidence of methamphetamine sales and identity theft involving scores of victims.

Placer County Republican Party Announces EndorsementsThe Placer County Republican Party has announced the following endorsements in local races for the November 2014 election.




more news

Featured Yellow Pages Categories

Auto

Business

Health and Fitness

Home Improvement and Services