The Mortgage Debt Relief Act of 2007 to extend through 2014? UPDATE

This is the letter I got back from one of our Senators regarding the Mortgage Debt Relief Act of 2007 hopefully will be extended through 2014.
Dear Ms. Barbour:
Thank you for contacting me to express your support for an extension of the Mortgage Debt Relief Act.  It's great to hear from you.
Making sure every American has access to safe, affordable housing is the first step toward building communities and ensuring hope and opportunity for all Americans.   Without the right policies, the effects of foreclosure can be devastating not just to the homeowner, but to their communities and the entire nation.
The Mortgage Debt Relief Act  of 2007  allows  homeowners   to eliminate the tax penalty from  d ebt reduced through mortgage restructuring or a  foreclosure of their  principal residence .   This program expires at the end of 2012, but would be extended through 2014 by the  Mortgage Forgiveness Tax Relief Act  (S. 2250).  This legislation is currently pending before the Senate Finance Committee.  Knowing of your support for S. 2250 will be helpful to me should it come before the full  Senate.
Again, thank you for contacting me.  Please let me know if I can be of help to you in the future.
Sincerely, Barbara A. MikulskiUnited States Senator
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I hope that this becomes a done deal, since there are so many people out there in need of this extension.  There are still lots of short sales out there and this would help!
FOR ALL YOUR REAL ESTATE NEEDS
STELLA BARBOUR
NoVa Brokers LLC
1483 Chain Bridge Road Suite 103
McLean, Virginia 22101
571-814-3002 OFFICE
703-999-6104 CELL
571-281-2866 FAX
www.stellabarbour.com
stellabarbour@yahoo.com
Licensed in Virginia & Maryland
http://www.stellabarbour.com/default.asp
Source: Blog

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