Jan 24, 2013

Underwater Homeowners Breathe a Sigh of Relief as Congress Renews Mortgage Debt Relief Act!

On January 1, 2013, Congress passed an extension of the Mortgage Forgiveness Debt Relief Act. This extension of this act, which has saved homeowners more than $1 billion dollars in taxes[1], is great news for struggling homeowners nationwide.

The Mortgage Forgiveness Debt Relief Act was originally passed in 2007 to aid the millions of homeowners who suddenly found themselves in danger of losing their homes to foreclosure following the housing market crash.

Under the Mortgage Forgiveness Debt Relief Act, any debt forgiven in a short sale, foreclosure, or loan modification, is exempt from federal taxes on primary residences. For homeowners facing foreclosure, this exemption saves them from paying thousands, or even tens of thousands, in taxes on top of losing their homes.

Now for another year, homeowners can take advantage of this exemption and avoid foreclosure without the fear of an impossible tax liability.

As a Certified Distressed Property Expert (CDPE), I am specially trained to help homeowners escape the threat of foreclosure. If you or someone you know is facing foreclosure, contact me for a private consultation. I can help find a solution.

Marina Hauser, CDPE
South Shore Home Solutions, LLC
(781) 738-0048 


39 Lafayette Park, Lynn, MA
SOLD - $215,900

" Marina helped my family out during a very difficult and confusing transition. My dream home had turned into a nightmare.  Marina took me by the hand and led me out of the mortgage mess I was in.  Furthermore Marina was able to sell that property within a few months giving us a chance to start from new.  Marina advised me to find a CPA for my taxes instead of filing them myself.  I am now in that process of finding a CPA to help me with my short sale issue. Anyone out there looking to sell their home or buy a new property I would recommend calling Marina. "
- Happy Homeowner
Lynn, MA