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Peter Petridis' Blog

By Peter Petridis | Agent in Windermere, FL

Orlando Fl short selling your home|Mortgage Forgiveness Debt Relief Act

Congress just passed a bill to avert the “Fiscal Cliff.”  With this bill there is a key component that will help the local Orlando Fl real estate market.  The Mortgage Forgiveness Debt Relief Act has been extended to January 2014.  This act will allow homeowners that are short selling their home to do so without facing any large tax bill.  The tax break comes in a tax relief for the amount of the mortgage that the home owner was forgiven when the home is sold.  Without this forgiveness the home owner could have faced a large tax bill when the mortgage company reported the sale to the IRS.

If you are behind on your mortgage and can not afford your to keep your home, let me assist you in short selling your home.  I will be happy to explain the process to you and show you how this process works.

Please call Peter Petridis from Wendy Morris Realty to help you with your home.    

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