Mortgage debt forgiveness law set to end; threatens housing recovery

A major factor in the recent housing market recovery is a law passed five years ago that suspends the tax liability on lenders' debt forgiveness when underwater homeowners want to sell their property.

December 18, 2012

A major factor in the recent housing market recovery is a law passed five years ago that suspends the tax liability on lenders' debt forgiveness when underwater homeowners want to sell their property. That law is set to expire at the end of the year, and no action is under way in Congress to renew it.

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