5 ways to finance real estate, mortgage first, Mortgage Forgiveness & Debt Relief Act (MFDRA)


5 Ways to finance a real estate purchase 

Real Estate Tip:

Shop for a mortgage before you shop for a home.  By applying for and getting pre-approved for a home loan, you’ll figure out the price range of homes you can afford to buy.

Real Estate Insights:

Welcome Relief for Homeowners, Then the Tax Bill [View Article]: We’re still anxiously awaiting Congress’ extension of the Mortgage Forgiveness & Debt Relief Act (MFDRA) for 2014.  I am optimistic that Congress will extend the MFDRA to provide relief to homeowners.  Even without the extension of the MFDRA, the IRS allows exceptions that may eliminate any tax burden after the cancellation of mortgage debt.  Ask your accountant about IRS Publication 908.