We wondered the December 31st expiration date spelled the end of the Act..... Literally!
Here is what our friend Lambros Politis of The Ark Law Group had to say:
As if distressed homeowners didn't have enough to worry about, with the pending foreclosure of their homes, they should also be mindful of the tax implications associated with the December 31, 2013 expiration of the Mortgage Forgiveness Debt Relief Act.
There is hope, as Congress has introduced three bills that call for the extension of tax relief to distressed homeowners--there are currently two in the House of Representatives and one in the Senate. According to the Washington Post, one of the House bills enjoys strong bipartisan support from members on both sides of the aisle, with…