Underwater Miami FL Homeowners Breathe Sigh of Relief as Congress Extends Mortgage Forgiveness Debt

Jan. 11, 2013 - PRLog -- For more information, please contact:

Ellen R Mitchel, CRS, CDPE, CIAS
RE/MAX Executive Realty
2012, 2013 Director Florida Realtors
2011, 2012, 2013 Director Broward Board of Governors
2013 NAHREP of South FL BOD
2012, 2013 FR Affordable Housing Committee
2012, 2013 FR Communications Committee
954-292-6412
ellenbithell@remax.net

Underwater Miami FL Homeowners Breathe a Sigh of Relief as Congress Extends
Mortgage Forgiveness Debt Relief Act

MIAMI, FL  – On January 1, 2013, Congress passed an extension of the Mortgage Forgiveness Debt Relief Act as part of tax bill H.R. 8, the bill addressing the “fiscal cliff.” Originally passed in 2007, this act exempts struggling homeowners from paying taxes on debt forgiven in a short sale, foreclosure, or loan modification.he bill extends the act through December 31, 2013, allowing underwater homeowners to once again pursue alternatives to foreclosure, such as short sales or loan modifications, without the fear of owing thousands and taxes.

“For distressed homeowners, the extension of the Mortgage Debt Relief Act is amazing news. Before this act, homeowners would negotiate a loan modification or avoid foreclosure through a short sale only to find they owed an equally unmanageable tax debt afterwards,” says Ellen Mitchel, CDPE, RE/MAX Executive Realty.

As a Certified Distressed Property Expert (CDPE), Mitchel is specially trained to help homeowners who find themselves facing foreclosure. “I’m committed to helping homeowners who are struggling,” Mitchel said. “Too often, homeowners facing foreclosure believe there is nothing they can do, but there is.”

“In fact, the options available to homeowners are better than ever. Lenders realize how much foreclosures cost, and increasingly favor short sales and other alternatives over letting a home go to foreclosure. Lenders are more willing than ever to work with homeowners,” said Mitchel.

Ellen Mitchel has developed a free report with more information on the Mortgage Forgiveness Debt Relief Act and the options available to homeowners facing foreclosure. This report, entitled, “Attention: Distressed Homeowners! Congress Renews Critical Homeowner Relief Program,” is accessible from her website, www.EllenHelpsHomeowners.com.

About

RE/MAX Executive Realty
1939 Hollywood Blvd
Hollywood FL 33020

Important Government Notice:

RE/MAX Executive Realty is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.