Koenig & Strey - Real Living

The agents in Koenig & Strey’s Libertyville office have found themselves explaining away a viral email that keeps resurfacing to home sellers regarding a new real estate tax.  Says Vice President and Branch Manager John Santo, “I thought I was done with this in 2010, but it’s surfaced again.” Obama signs health care reform The target is Obama Health care reform and Democratic lawmakers – the fallout is misinformation about a...

The Mortgage Forgiveness Debt Relief Act of 2007, a law that provides tax relief to financially-strapped homeowners forced into foreclosure or a short sale is close to expiration. Actually it’s not that close – it expires at the end of 2012. But in the snail-like environment of mortgage adjustments, eleven months can pass in a flash. Under US tax code, if a lender cancels what you owe, the IRS considers that forgiven debt as income, for...