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Mortgage debt forgiveness and TRIA update


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The United States Senate has adjourned marking the formal end of the 113th Congress. Congress enacted a series of tax extensions including the "Mortgage Forgiveness Tax Relief Act", which is now headed to the President’s desk for signature into law. The United States Senate failed to renew the Terrorism Risk Insurance Act (TRIA). This alarming failure to act before adjournment could stall commercial real estate development around the country. 

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