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Ron Wyden
Short-sellers in limbo waiting for mortgage forgiveness tax relief
Short-sellers in limbo waiting for mortgage forgiveness tax relief

David Foster, who sold his condo in Chicago last month, isn't plugged in to Capitol Hill's political games. But he has banked the financial future of his family on Congress accomplishing at least one thing during the post-election session: renewing the expired Mortgage Forgiveness Debt Relief Act so that he and his wife and three young children aren't crushed by taxes next year on the $100,000 his lender agreed to cancel as part of a short sale. Like thousands of other owners across the country who have been struggling with underwater properties, Foster, a 33-year-old campus pastor with a local ministry group, knew he was taking a risk when he negotiated the short sale and...

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