What Is the Fiscal Cliff
Just what is, or was, the fiscal cliff?? Is it something that people actually fall off of? Does the extension Congress voted for recently mean much, or anything, or a whole lot, to the average homeowner?
If you are interested in finding out some of the ramifications, take a look at the info in our Fiscal Cliff report, co-authored with Brian P Forrester of VanDyk Mortgage. Brian is a Senior Loan Originator with VanDyk Mortgage and a CPA. We at Sun Bay Associates at Keller Williams Realty have been Realtors with 20 years of experience and much of that experience has to do with short sales and other distressed properties.
One of the key provisions of the Fiscal Cliff legislation is that the Mortgage Debt Relief Act was extended to January 1, 2014. This will allow homeowners and home sellers who have part of their mortgage debt on their primary residence, to be forgiven by their lender due to a short sale, foreclosure or loan modification.
There are several other benefits from the Fiscal Cliff Bill that affect both the real estate and mortgage industry. See additional information on our summary report, or give us a call.
Our goal is to help our country recover from the real estate recession one homeowner at a time.