NAR Letter to Full House Regarding Mortgage Debt Cancellation
Issue Date: March 11, 2019
On March 11, 2019 NAR sent a letter to the full U.S. House of Represntatives. The letter urges Representatives to consider the importance of extending the exclusion for cancellation of mortgage debt on a principal residence. This vital tax relief provision is officially referred to as “Discharge of indebtednesson principal residence excluded from gross income of individuals.” Since it was first enacted in 2007, this relief measure has helped hundreds of thousands of American families all over the Nation at some of the most financially distressed periods of their lives.