The Mortgage Debt Relief Act - put in place to assist homeowners who are struggling with their mortgages - was passed in 2007 and was extended through 2013. Without this act, homeowners who participate in short sales or other similar programs are hit with a 1099 for the difference between what their house sells for and what they owe. Expiration of this law puts the housing market's recovery in serious jeopardy. This law expired on December 31, 2013 and has yet to be extended, even though 48 of 50 states' Attorney Generals support the law and while foreclosures are at an all-time high, Congress sits idle on the issue. Please sign this petition and tell the Obama Administration to step in and get this law extended for AT LEAST another year.
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