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Housing Affairs Letter

Taxes

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Mortgage Debt Relief Reprieve

A federal tax exemption for troubled homeowners is extended one year, a move that could help maintain the momentum of distressed home sales. Tucked into the congressional action to avert a financial crisis, extension of the Mortgage Forgiveness Debt Relief Act of 2007

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New Tax Faces Troubled Homeowners

With election year activities and the partisan gridlock in Washington capturing the nation’s attention, a tax law about to expire that could affect thousands of homeowners has received scant attention. The Mortgage Debt Relief Act of 2007 will expire Dec. 31, and Congress is not prepared to tackle the issue in the lame-duck session.

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(PRIVILEGE TAX) Privilege Tax On Tap In Texas

If state Sen. Jerry Madden (R) has his way, thousands of Texas employees who live at discounted rates in state-provided housing would have to pay a monthly privilege fee to make up for lost school taxes.

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(MORTGAGE DEDUCTION) Mortgage Deduction Lurks In Overhaul

With Senate committee lineups complete and the hearing calendar prepped. Finance Committee Chairman Max Baucus (D-MT) is ready to get his tax reform effort in high gear with a series of hearings beginning March

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(MORTGAGE INTEREST DEDUCTION) Advocates Gird For Mortgage Tax Fight

Proposed elimination of the mortgage interest income tax deduction is meeting stiff resistance from the housing industry even before it is officially proposed to the White House and Congress by President

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(DEFICIT PLAN) Deficit Plan Targets More Housing Issues

Mortgage interest deduction isn't the only housing issue on the table affecting homeowners in the deficit-fighting plan crafted by the president's deficit panel. Several other tax issues would have a

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(MORTGAGE INTEREST) Mortgage Interest Deduction Targeted

Reaction is swift on the details of President Barack Obama's deficit commission's decision to recommend the end of the income tax deduction on mortgage loan interest

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(REAL ESTATE TAX) Real Estate Tax Part Of Health Bill

A 3.8% tax on the sale of a home will kick into effect starting in 2013 as part of the national healthcare legislation signed into law in April. The tax, levied to finance Medicare, doesn't single out real estate. It

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(MORTGAGE INTEREST) Mortgage Interest Deduction Slammed

Congress should limit mortgage interest and property tax deductions now allowed on federal income tax returns to help regenerate the housing market, economist Mark Zandi tells a U.S.

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(TAX RELIEF) Former Homeowners Get Tax Relief

California homeowners who lost houses to foreclosure last year will receive tax relief under a measure approved in the state legislature and sent to Gov. Arnold Schwarzenegger, who pledged to sign it

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