If you cannot pay your mortgage payments on your house you may need to seek help before the end of 2016.
In 2007 when foreclosures and short sales began to explode across the country, Congress enacted a temporary exemption for homeowners who received cancellations of mortgage debt as part of their loan modification deals with lenders. That exception has been extended periodically by Congress ever since. As of January 1, 2017 that benefit will end and any deficiency remaining will not be forgiven any longer.
There are counseling agencies available that help those borrowers that either want to do a Modification or would like to stop their foreclosure but you must contact them before the end of the year so they have time to contact your lender and either get a Modification started or stop the foreclosure.
If you are interested contact me and I can help you set up an appointment with an agency.
You can text or call me at 813-924-3707
Marisol Coll is a licensed Florida Realtor serving the Tampa, FL metro area. She helps buyer and sellers with their real estate goals. To reach Marisol call or text (text preferred) at 813-924-3707.