Mortgage Cancellation Debt Relief

Coin Stacks


A law enacted in 2007 provided temporary debt relief to troubled borrowers when some portion of mortgage debt is forgiven. That relief has expired and been extended several times. The last provision made Jan. 5, 2015, allows for forgiven debt in the year 2007 through 2016 for up to $2 million of forgiven debt.

This is an ongoing issue, with the national association advocating for another extension with a Call for Action urging Realtors® to tell their Senators to pass a retroactive extension currently up for a vote.