Program HR 3648

H.R. 3648: THE MORTGAGE FORGIVENESS DEBT RELIEF ACT AND DEBT CANCELLATION.

 

The federal government enacted H.R. 3648, the Mortgage Forgiveness Debt Relief Act, to help stem the tide of foreclosures by removing the tax burden resulting from debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with short sales.

Program HR 3648 is a privately sponsored nation-wide initiative to reach out to homeowners who are struggling with their mortgage payments and provide them with the information, guidance, and actual work that is required to avoid foreclosure. Certified Program HR 3648 Specialists volunteer their time to assist as many homeowners as possible and all services provided by Program HR 3648 are always free for every homeowner.

The Mortgage Forgiveness Debt Relief Act ends December 31, 2012. There has been no news from Uncle Sam of extending this.

There are many new laws in addition to the Mortgage Forgiveness Debt Relief Act that we can advise and discuss with you. In addition to getting you $3,000-35,000 from the Bank for relocation assistance.

 

Our mission at Program HR 3648 is to help millions of homeowners avoid foreclosure and take advantage of the programs that have been instituted to help them. We realize that the only way that we can accomplish this goal, is though a ground army of volunteers that are willing to go directly to homes, hold homeowners hands, and walk them through the process of working with their lender, and proactively remedying the mortgage problem.

Please contact us via one of the following forms:

1. Contact Us Form at the bottom of this page

2. Contact Us Page (click here)

3. 

4. Call (310) 954-0808 x 1 

 —————

Short Sale

If you cannot bring your loan current, afford to make payments moving forward, or are unable to sell the property for the full amount of the loan, your lender may accept less than the amount owed as full payment.

PRO: Under the terms of a short sale, your lender may forgive your mortgage debt in its entirety according to the terms outlined in The Mortgage Debt Relief Act of 2007. Fannie Mae has announced a reduced mandatory waiting period to establish credit history to 2 years after the completion of a short sale. This mandatory waiting period after a short sale is lower than the required 5-7 years following a foreclosure.

CON: You must sell your home.

————–

More Information on: THE MORTGAGE FORGIVENESS DEBT RELIEF ACT AND DEBT CANCELLATION via IRS (click here)


Copyright © 2011 - Trimax Realty & Loan - Designet by: René Sejling