Dec

29

Bush signs mortgage debt forgiveness law

December 29, 2007 | 2 Comments

It’s official, President Bush signed into law today a new measure giving tax breaks to homeowners who have mortgage debt forgiven.  Under preexisting law, the debt forgiven by a lender, such as for short sales and refinances, was generally taxable to the borrower as debt discharge income.  With the passage of the Mortgage Forgiveness Debt […]