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CORDRAY HAILS TAX RELIEF FOR TROUBLED HOMEOWNERS
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Thursday, 20 December 2007
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(Columbus) -- Ohio Treasurer Richard Cordray today hailed enactment of federal income tax relief for families who have renegotiated their mortgage loans to avoid foreclosure.
“This measure removes concern that people who work through their foreclosure problems would then be leveled with a tax bill on phantom income that they never received,” Cordray said. “As we counsel Ohioans to take aggressive steps to save their homes, this Congressional action will help to make sure that having saved their homes, they can stay there for good.”
Cordray said he was especially pleased to see this change was made in time for the upcoming tax season. Cordray had advocated passage of the measure with all members of Ohio’s Congressional delegation, asking them in May of this year to provide this needed relief to families.
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Communications