Matt's Take on the News
May 31, 2012
The Mortgage Debt Relief Act of 2007 is set to expire on December 21, 2012. The Mortgage Debt Relief Act releases homeowners from obligation of paying taxes on mortgage debt forgiven from a short sale, foreclosure or modification. Only taxpayers that are eligible are those who use the property as their primary residence.
YouWalkAway.com conducted a national survey and found that 34 percent of respondents indicated that the act contributed to their decision to walk away sooner rather than later from their property. For many Americans that are currently involved in a short sale, they are hoping to get their short sale closed before December 31st.
If this act does not get extended at the end of the year, it could further depress the market in that many homeowners will be skeptical about completing a short sale due to the tax consequences. In March, James McDermott introduced a House Bill to extend the act to 2015.
Tell me your thoughts, should they extend the Mortgage Debt Relief Act?
|There are many "investors" that talk the talk, but don't walk the proverbial walk!
Matt and Randy can! They are real Real Estate investors that have spent the time learning the business from the ground up. By committing to following various systems and courses and learning from coaches and mentors, they now have implemented their own system and process to close on property transactions all the time.
What makes these two different from the rest? It's simple. They live and breathe Short Sales everyday and ultimately practice what they preach. Each day is different, each sale is different and can pose unique challenges to overcome. Properties, sellers, and Real Estate Agents all have their own identity and issues that investors must deal with and face. Matt and Randy know how to overcome those issues and objections and get to closing with the best interest of the seller ALWAYS coming first!
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|TO YOUR SUCCESS!
Matt and Randy
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