Mortgage relief act may help home sellers more than home owners

01/3/2008 | Thomson FXHub

An analysis of the Mortgage Forgiveness Debt Relief Act, which was promoted as helping protect homeowners, likely will be more beneficial to those trying to sell instead of keeping their homes. The new law allows homeowners to refinance without paying taxes on debt that's forgiven, but experts say that's unlikely to be the route lenders take. "Loan modifications where principle is reduced will continue to be used very modestly," said Tom Deutsch, deputy executive director of the American Securitization Forum.

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