Important Real Estate Update for Property Owners: U.S. Senate Passes Mortgage Debt Forgiveness

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Important Real Estate Update for Property Owners: U.S. Senate Passes Mortgage Debt Forgiveness If you are at least 62 years old and own your home, escalating real. also important to recognize how your estate will be affected. Since the reverse mortgage loan must be paid back when the home is.

In one of its final actions before the holiday recess, the U.S. Senate passed the Mortgage Forgiveness Debt Relief Act (H.R. 3648), which would remove the tax on "phantom income" when lenders forgive portions of the balances on mortgages of financially-stressed homeowners.

Important Real Estate Update for Property Owners: U.S. Senate Passes Mortgage Debt Forgiveness

Important Real Estate Update for Property Owners: U.S. Senate Passes Mortgage Debt Forgiveness. still pay more in property taxes than a previous year if the owner’s assessed values have gone up.. both the House and Senate because taxpayers in the state of Texas. for real property tax reform.

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