House passes mortgage debt forgiveness tax relief

The United States House of Representatives has passed legislation extending the income tax exemption on mortgage debt forgiven in a short sale or a workout for principal residences. The bill containing the income tax exemption on forgiven mortgage debt and other expired tax provisions passed by a vote of 378 to 46. The United States Senate has not yet voted on the measure. Please take action and contact your Senator and tell them to pass the bill before the end of the "lame duck" session this Friday, December 12.

New York currently has a 12-percent response rate! Please take action now on this very important issue!