Lots of homes are still underwater or has suffered from a disaster such as Superstorm Sandy. There are still people suffering out there from bad mortgages, loss of jobs, or barely making enough money because of financial circumstances. Passing and extending the mortgage relief act to eliminate those "Phantom Incomes" will help those who are already in trouble. Having a burden of phantom tax on top of financial crisis for people loosing their homes is just pouring gas to an already burning flame.
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