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Mortgage Forgiveness Call to Action

Industry Insider is a publication distributed by MIBOR every other Friday to Managing Brokers. 


Mortgage Forgiveness Call to Action

NAR is asking all REALTOR® members for few minutes of their time to contact their US Senator before Congress adjourns this year which is currently set for December 12th. The "Mortgage Forgiveness Tax Relief Act," would stop the IRS from treating mortgage debt forgiveness as income. 

Today’s housing market is recovering, but there are still too many home owners unable to meet their mortgage obligations. If "The Mortgage Forgiveness Tax Relief Act" is not enacted, hundreds of thousands of American families who did the right thing by short-selling their home or received a much needed loan reduction from their lender will have to pay income tax on "phantom income." 

Last week the United States House of Representatives, extended the income tax exemption on mortgage debt forgiven in a short sale or a workout for principal residences. The bill containing the income tax exemption on forgiven mortgage debt and other expired tax provisions passed by a vote of 378 to 46. The United States Senate has not yet voted on the measure. 

NAR asks that you urge your Senators to act on "The Mortgage Forgiveness Tax Relief Act" and help provide certainty for struggling home owners and stability for our nation’s housing markets. Click here to take action now.
  Matrix™ Training Starts Monday
  It’s training time and no excuses. We are coming to YOU. MIBOR trainers will be out in force beginning today to get you ready for Matrix™. Classes are FREE, registration is required and your SentriLock card is requested. Make sure to bring your SentriLock card with you. It will expedite the check-in process and, with a swipe of your card, you’ll be entered for giveaways. Each attendee will receive a gift to help you remember the Matrix™ shortcut symbols. So don’t delay, click here to read class descriptions and register. MORE
  We’ll be moving some of the most used The Stats House® Database data and widgets to in 2015. Which data do you find most helpful? Let us know, click here.  
  OTHER NEWS      
  Indianapolis Monthly Article Causes a Stir  
  The December issue of Indianapolis Monthly magazine includes an article by “Back Home Again” columnist Phlip Gulley. You have likely seen the article entitled ‘House of Lies’ as it has been circulating via email between members since late November. If not, we suggest you read it in order to be aware of what your customers or others may have read. Click here for full article.

Many of you have expressed your extreme displeasure with the tone and content of the article. MIBOR staffers have spoken with several members at length and have been in talks with the editor-in-chief about the article, its impact and their response.
  All Month: For information on MIBOR Division meetings MORE  
  December: Matrix™ Presentation Trainings. MORE  
  January 17: MIBOR Ball Better Than Ever! MORE  
  Ongoing: Online Calendar of Events MORE  
2014 Metropolitan Indianapolis Board of REALTORS®
1912 N. Meridian St., Indianapolis, IN 46202
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