What a critical time right now during this cyclical real estate confusion ! It’s hard to believe that the Mortgage Forgiveness Debt Relief Act of 2007 is soon to expire in December 2012.
First we experience a massive increase in home prices during 2005-2006… everyone so excited in the market place, homes sell for almost double what there were in 2000, and all is great for everyone, until……………..
2007 when the market begins it’s downward spiral and the Arizona market is down by 49%. What a disaster in our state of Arizona, among other states.. Job losses, decreased salaries, outsourcing, and much, much more, caused our homeowners to lose their homes. An absolutely tragedy… a sense of failure, at times humiliation, and sadness. Not a thing anyone could do about it, but list, sell and leave… or walk !
Thank goodness for the Mortgage Forgiveness Debt Relief Act of 2007 that provided a sense of support for our homeowners during this turmoil, as they were losing their life savings, their homes, their shelter…. there was absolutely nothing left for them but this Act, The Mortgage Forgiveness Debt Relief . Fortunately, it was there in time for many homeowners, but there are still many experiencing this issue and many yet to go through it. That said, what do we do now with it expiring in December ?
YOU CAN HELP!!!!!
You can sign this petition by clicking ‘HERE’
Your support in doing so will help Homeowners, still on the verge of losing their homes, have the benefit of The Mortgage Forgiveness Debt Relief Act of 2007 extended beyond December 2012, to allow taxpayers to exclude this cancelled debt on their principal home, from their income. Haven’t they already lost everything ? Why should they have to pay for more when it is our economy that has failed them ??????
You can read more about the Act Here
Realty ONE Group
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