Short Sales of Homes Surge as Tax Break to Expire

Kathleen M. Howley, Bloomberg Homeowners and banks are accelerating sales of properties for less than the amount owed as a U.S. law that gives them a tax break expires at the end of the year. The transactions, known as short sales, increased by 35 percent in the third quarter from a year earlier, while sales […]

Expiring Mortgage Relief Tax Exemption Threatens Struggling Homeowners

Sarah Bufkin and Ryan Grim, Huffington Post Beginning on Jan. 1, people who lose their home to foreclosure will be required to pay federal taxes on any unpaid mortgage the bank can’t recoup through an auction. The same will be true for homeowners whose loan principal is reduced by a mortgage modification, with the wiped-out […]

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