After passing a Continuing Resolution that will fund Federal Government operations until April 28, 2017, the 114th Congress adjourned on Friday, December 9, 2016.  An extension of the Mortgage Cancellation Debt Relief, part of the “Tax Extenders” package was not passed in the lame duck session.  Homeowners completing a short-sale or a mortgage modification at any time during calendar year 2016 are eligible for the relief when they file their 2016 Income Taxes in April of 2017.  NAR will be working on an extension in early 2017 that would be retroactive to January 1, 2017.

NAR Priorities for the 115th Congress
Regulatory reform, tax reform, National Flood Insurance Program reauthorization, housing finance reform (Fannie Mae and Freddie Mac) and other housing and real estate issues that arise.