Is it just me or are we just not seeing a lot of attention in Washington on this issue. I know that I continue to do mortgages on a regular basis that are part of a short sale.
The Debt Forgiveness Act expires 12/31 and if it is not extended, it will certainly affect those that are considering doing a short sale in the future. On top of the painful decision, added to that, this now becomes a taxable event.
Hopefully Washington will do the right thing, extend the Debt Forgiveness Act, so that the rest of these short sales can happen without these folks being any more damaged.
