Congress has exteneded certain provisions of the Mortgage Forgiveness Debt ReliefAct through the American Taxpayer Relief Act of 2012 until December 31, 2013.  This act benefits qualified home owners who may have otherwiseowed taxes on forgiven debt resulting from a short sale, reduced loan principle or foreclosure, which without the extension, would likely have been taxed as income.

For more information on the American Taxpayer Relief Act of 2012, please consult with a tax advisor.

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