Wins for mortgage industry in "fiscal cliff" deal

01/2/2013 | Housing Wire · CNBC

This week's last-minute agreement to avert the "fiscal cliff" extends a law that made mortgage insurance premiums tax deductible. The deal also extends for one year the Mortgage Forgiveness Debt Relief Act of 2007, which exempts from tax liability the principal that homeowners are forgiven during a short sale or write-down. Lawmakers did not make changes to the mortgage-interest deduction, though that issue could come up again as part of a long-term deficit-reduction plan.

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Housing Wire · CNBC

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