#sealeyteam

If someone worked and studied hard to find value in a sitting property that's bringing down values in a neighborhood and possibly harboring crime why would you stop them. This makes absolutely no sense. We should encourage individuals to help fuel the economy. This is counterproductive to our country's mission and values. Maybe if we make enough noise we can create a change to this nonsense.

Now that I've ranted here's the news: 

Fannie Mae and Freddie Mac announced changes to their servicing requirements for short sales. Please be aware of the following key changes for all parties involved in a short sale. These changes apply to all Fannie Mae and Freddie Mac short sales, with an offer and without an offer.

Title Transfer requirement change:

The buyer is prohibited from selling the property for any sales price for a period of 30 days from the date of the deed.

Lawmakers managed to extend the Mortgage Forgiveness Debt Relief Act as part of their 11th hour deal to avoid the fiscal cliff.

The extension means homeowners now will be excused from paying taxes on forgiven mortgage debt through 2013. The law, established in 2007, was set to expire Dec. 31.

For more detail check out the IRS site directly