Mortgage Debt Forgiveness Act coming to an END !

As we await the much sought out extension of the Mortgage Debt Forgiveness Act, we must come to the possible realization that come the end of December, 2012, we no longer will have the tax shield.¬† For those that are on the fence, contemplating whether to do a Short Sale, or let your home get foreclosed by the bank…either way, a decision has to be now. A Short Sale has much more of an appeal since it affects your credit less severe then a foreclosure would. Also, there is a good possibility that you would be eligible for the Federal “HAFA” program, where you would receive (at closing) an amount of approximately $3,000 for moving expenses, etc… Don’t wait. The process takes a few months, therefore time¬† is still on your side to act and get it Sold.

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