Archive for March, 2008
The “Mortgage Forgiveness Debt Relief Act of 2007″ allows a surviving spouse to exclude from gross income up to $500,000 of the gain from the sale or exchange of a principal residence owned jointly with a deceased spouse if the sale or exchange occurs within two years of the death of the spouse and other [...]
Until the end of the year Fannie Mae limits have been raised from $417K to custom levels by MSA. Hawaii still has the top limit of around $793K with a number of major metropolitan areas in the $729K arena.
Go to https://entp.hud.gov/idapp/html/hicostlook.cfm to look up an areas new limits.
Calculated Risk has a nice summary of the [...]