Yellow Pages |   News Updates |   Local Jobs |   Events Calendar |   Movie Times |
Rocklin and Roseville Today Local Events Calendar
    (Independent and Locally Owned)
 

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

Jeep Grand Cherokee: More Refined Than EverA 2014 "refreshening" has given the Grand Cherokee a more modern, sophisticated look that will have admirers giving it the double take.

People & Culture Days in Rocklin October 22- 23Rocklin, CA - Have you ever sampled Persian food? Have you listened to Peruvian music? Can you make a Japanese origami crane? Would you like to get a henna tattoo?

Heartstoppers Haunted House Frightening Ghosts and Ghouls You will be scared out of your wits for a good cause this October as the Heartstoppers Haunted House returns to the former Mine Shaft venue

PCWA Encourages Rapid Watershed ProtectionIn wake of the King Fire, the Placer County Water Agency is encouraging expanded and rapid remediation of heavily burned National Forest Lands to protect water quality of the Rubicon River watershed before winter storms.

Big Bad Voodoo Daddy at Thunder Valley on New Year's EveGuests will have the chance to purchase tickets to Thunder Valley Casino Resort's much anticipated $100k Big Easy New Year's Eve Celebration Main Event- as tickets go on sale Saturday, October 18 for Big Bad Voodoo Daddy.

Ebola Virus: Oral and Facial Surgeons AdvisoryThe California Association of Oral and Maxillofacial Surgeons (CALAOMS) has issued an advisory to all oral and facial surgeons in California that provides important guidance on Ebola virus

$24 Million Makeover for South Tahoe's MontBleu ResortRenovations exceeding $24 million at MontBleu Resort that include the casino floor, convention center and all 437-rooms from the 17th floor and down will begin

Roseville California Crime Brief (10.17.14)Crime brief report for Roseville, California for October 17, 2014

Free Drip Irrigation Workshop in Granite BayDrought Watch: Saturday October 18, San Juan Water District experts will be hosting a free water conservation workshop for its customers and neighbors

2014 Rocklin MobilePack Gets Boost from Wells FargoA three-day, all-volunteer effort for area residents to pack meals for malnourished children around the world has received a big boost from Wells Fargo.

141 Pounds of Weed, Psychedelic Mushrooms in Roseville Police BustBrian Lee Feld Getz, age 36 of Grass Valley and Timothy Conway Reimer, age 33 of Philadelphia were jailed on suspicion of possessing and selling marijuana, and conspiracy.

Rocklin Woman Arrested in Day Spa Pimping CaseZulgerel Baker, 35, of Rocklin, was arrested following a nine-month-long Placer County Sheriff's Office investigation.




more news

Featured Yellow Pages Categories

Auto

Business

Health and Fitness

Home Improvement and Services