Congress finally came to a legislative deal with the fiscal cliff. For real estate there are 3 things for us. The Home Mortgage Interest Deduction was saved, the Mortgage Forgiveness Debt Relief Act of 2007 was extended and Private Mortgage Insurance (PMI) is still deductible. For a seller doing a short sale this would have be a taxable gain and meant a tax bill of approximately $33,000 for the average short sale. Avoiding Foreclosure and Short Sales: bit.ly/THdD6v Search for Seattle Homes: bit.ly/OPtPtM Facebook: on.fb.me/4CL3IX Twitter: bit.ly/SydSPZ bit.ly/VJ3lzi
via Flickr http://www.flickr.com/photos/antonstetner/8356653030
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