Home Buying in Las Vegas>Question Details

Adriana Sama…, Real Estate Pro in Las Vegas, NV

Someone knows for sure if debt forgiveness act is extended for 2014? Thanks

Asked by Adriana Samardjieva, Las Vegas, NV Fri Jan 3, 2014

Help the community by answering this question:


Do you have a home in Vegas you are trying to sell? Are you sure you owe more than it is worth? Home values has skyrocketed since the beginning of 2012 so many homeowners that were underwater are now able to do a traditional sale. If you would like me to run the comps for you and provide you with a FREE Comparative Market Analysis please contact me at the info below or fill out our seller's form here (feel free to watch the Seller's video on this page as well to see why we can get you top dollar for your home): http://lvrealestatehelp.weebly.com/selling-real-estate.html

I look forward to hearing from you!

Best Regards,
Robert Adams
The Adams Team at
Rothwell Gornt Companies

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1 vote Thank Flag Link Fri Jan 3, 2014
Hi Adriana,

As you have already been informed, the bill has not yet been extended. Several lawmakers AND our National Association of Realtors are lobbying to get an extension, so we are just waiting to see what happens.

However, depending on your individual circumstances, it may still be possible to get around the tax consequences. You should definitely consult a CPA on this!! Real estate agents are not able to give you specific tax advice.

Hope this helps!

Diann Tonnesen
Prudential Americana Group Realtors

The Tonnesen Team - with over 30 years of experience helping families call Las Vegas "home!"
1 vote Thank Flag Link Fri Jan 3, 2014
Adriana Why Don't You Ask Your Broker
Las Vegas, Las Vegas, NV
License: 71238
(702) 275-6833
0 votes Thank Flag Link Sat Jan 4, 2014
Bill was ended on December 31, 2013. At the present time, there is no information from Congress if they will extend this bill.
0 votes Thank Flag Link Sat Jan 4, 2014
It was not extended - BUT - lawmakers are currently trying to revive it and it could be soon!
0 votes Thank Flag Link Fri Jan 3, 2014
The fact is that it is not passed. People want to be prepared in the case it does not return. Could be is not good enough. There are ways to short sale your home and have not tax consequence which is the equivalent of having the act in place. We must operate under current conditions and the good news is there are ways to accomplish the same result as if the act was in place. I am happy to discuss them. Don't be afraid to sell... Call me I'll explain how. 702.286.2272
Flag Fri Jan 3, 2014
No it has not been extended but there are other ways to avoid the tax consequence of debt forgiven. I am happy to discuss your options.

Mike Gorelick
0 votes Thank Flag Link Fri Jan 3, 2014
It was not extended. Several Bills were submitted for review but none made the floor!

If I can help please call me.

0 votes Thank Flag Link Fri Jan 3, 2014
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