Tax Break for Struggling Homeowners Set to Expire
November 7th, 2012
(CNN) — A tax break that saves struggling homeowners from paying thousands to the IRS may be on the chopping block.
Congress has yet to extend the Mortgage Forgiveness Debt Relief Act of 2007.
The act saves homeowners from paying taxes on the portion of their mortgage that is forgiven in foreclosure, short sale or principal reduction.
If the tax break expires more than 600,000 homeowners a year may be affected.
Pay baby pay. Where do you think the money is going to come from for buying the election votes. Can’t wait to see Union, Public worker, Small business, etc. cave when resources run out to fund them. Enjoy working until your demise. The leader of Failure has been rehired.
So it begins
And does this shock anybody?
as Ms Warren said..we have to “increase revenues”.. and so they will
As Warren and Obama chuckle “suckers!”
America gets what it deserves…
to channel 40 and everyone esle no matter who is in office not all 100% of the people will ever be happy no matter who you voted for its that simple .it comes down to finger pointing and insults who did what and what could this person could have done .we so much want to think deep down we have all made the right choice .how about if both sides got along .so before insults start flying around pleaseeeeee think about it
Most academic economist think the only real way to reduce the national deficit is to remove most tax deductions — the biggest one they suggest is mortage interest. Those who chose to have houses should be able to afford them.
ok people , obama got the tax break for home owners , he got for extending the rich tax break , what idiots . pay attention before voting next time and maybe obama wouldn’t have had to sweat it out from stupid people like you guys
the welfare fox news talks about while trying not to look racist , went to struggling families that got hit by the mortgage crisis in the form of food stamps . which is temporary , seems like a middle class bailout to me .