Local Relator asks Congress to extend the Mortgage Debt Relief Act

Sunday, November 18, 2012

Punta Gorda, Fl. The approaching expiration date of the Mortgage Forgiveness Debt Relief Act of 2007 is bringing serious concerns to thousands of families that might soon face a huge tax bill, if they don't sell their homes before December 31st. 2012.
Fernando Pettineroli, a Punta Gorda listing agent is requesting Congress to extend this act as soon as possible.
"Every American should have equal access to this benefit and the majority of homeowners in distress still doesn't even know they have a chance of relief" said Pettineroli. "We don't want to see the elderly suffering. Many families, specially those in fixed income as retirees, are starting to have problems to keep up with their changing mortgages and they will have a huge tax debt if this benefit is not extended" said Pettineroli.

Local Congressman already in motion.

Representative Tom Rooney (R, Florida), in an email sent to Mr. Pettineroli  compromised full support to the initiative. Mr. Rooney affirmed "...please know that I will work with my colleagues in the House to ensure an extension of these integral tax provisions..." referring also to a number of tax extenders due to expire soon. Rooney shared the same concern, stating that " I understand the tremendous effect these various tax policies have on individuals, families and businesses across the nation and welcome the opportunity to address your concerns."
Mr. Rooney also expressed that "knowing that comprehensive reform will take time, we must also ensure that while Congress is working to bring about competitive change, we do not increase the cost of business.

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