Petition Closed
Petitioning US congress and Senate

Extend the Mortgage Debt Relief act through 2015


Underwater Homeowners who sell their homes in a short sale or lose them in a foreclosure are required to pay income tax on the amount the banks lose. This just adds insult to injury at a time when these famililies are trying to rebuild their lives.

Currently there is an exemption for owner occupied property owners but the exemption ends at the end of 2012. We petition the US Congress and Senate to extend this law through 2015 to give the housing market time to work through the foreclosure crisis and allow families to recover without additional taxes.

Letter to
US congress and Senate
I just signed the following petition addressed to: Congress of the United States of America.

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Extend the Mortgage Debt Relief act through 2015

Underwater Homeowners who sell their homes in a short sale or lose them in a foreclosure are required to pay income tax on the amount the banks lose. This just adds insult to injury at a time when these famililies are rebuilding their lives.
Currently there is an exemption for owner occupied property owners but the exemption ends at the end of 2012. We petition the US and Congress and Senate to extend this law through 2015 to give the housing market time to work out the foreclosure crisis and allow families to recover without additional taxes.
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Sincerely,