Last week I mentioned a couple of things that homeowners should contact their Congressman and/or Senator about. That was the mortgage interest deduction and the deductibility of PMI. Hopefully you have done that. By the way, I just learned that only about 25% of the folks that could use these write offs actually take advantage of the write off. Surely you don't want to give Uncle Sam more money than you have to. I'm just sayin.
There is another bill that is expiring that really needs to be renewed. If you know someone that is selling on a short sale or is or has been foreclosed on they are at risk. The amount of loss is taxable income after Jan 1. That is just piling on. If someone could afford that tax they probably wouldn't have trouble keeping their home. So I encourage you to contact them again.
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