NAR Letter to the Full Senate Urging Support of Mortgage Debt Tax Relief Act
Issue Date: April 22, 2015
US S 0608 - Mortgage Forgiveness Tax Relief Act
On April 22, 2015 NAR sent a letter to the full Senate. The letter urges Senators to cosponsor S. 608, “The Mortgage Forgiveness Tax Relief Act.” This bipartisan legislation, introduced by Ways and Means Members Tom Reed and Charlie Rangel, would extend for two years the rule that allows tax relief for homeowners when lenders forgive some portion of mortgage debt they owe. The provision, which has helped many thousands of American families, expired at the end of last year. Securing its extension, as this bill would do, is one of the Association’s highest priorities for 2015.