It is spearheaded by 4 state AG's with the strength of the Robo-Signing Settlement behind them. It is noted that with the 25 billion settlement many homeowners that are in the midst of short-sales, loan modifications, and principal reductions could all be stuck with a tax bill in 2013 if there is no extension.
It has been in the Obama 2013 budget for quite some time but we all know that budget has not been finalized, and who knows when it will be.
I've got mixed feelings about extending it. Rip the bandaid off and be done with it? But, as we are still teetering on the edge of recovery, I am now leaning towards one more year. I think it's taken so long to get the process of housing assistance moving in the right direction, at a more appropriate speed. The thought of pulling that bandaid of the Debt Relief Act off now, may just make the wound heal at a significantly reduced pace than what we were starting to see recently.
Rip it off quickly, peel it back slowly....what are your suggestions?