Welcome to the LRAOR member website!

For Open Houses, please visit our public site,  ReIndiana.com

Join us at Carnahan Hall on July 22nd for the RPAC Wine and Beer event. Whyte Horse winery and People's brewing will be on site for tastings. Food, fun and live music provided!

Cost of entry is an RPAC contribution and includes a ticket to play "Wine Ring Toss". Register in advance under calendar of events. 


NAR Call For Action:

Don’t Tax “Phantom Income” on Short Sales

Congress has begun its “Lame Duck” session with a big list of unfinished business items.  Number one on that list for REALTORS® is an extension of “The Mortgage Forgiveness Tax Relief Act.”

This bipartisan legislation would extend an expired provision that has helped millions of distressed American families by allowing tax relief for homeowners when lenders forgive some portion of the mortgage debt they owe. Today’s housing market is finally recovering. However, there are still too many homeowners unable to meet their mortgage obligations.  Estimates show that about 5.3 million homes are still under water. In addition, there are still more than 1 million homes in the process of foreclosure. 

If “The Mortgage Forgiveness Tax Relief Act” is not enacted, hundreds of thousands of American families who did the right thing by short-selling their home or received a much needed loan reduction from their lender will have to pay income tax on “phantom income.” 

Urge your Member of Congress and Senators to act on “The Mortgage Forgiveness Tax Relief Act” before the end of 2014 and help provide certainty for struggling homeowners and stability for our nation’s housing markets.

FOLLOW THIS LINK  to let your congressional representative to hear from you!


 
Lafayette Regional Association of Realtors, Inc. – 1415 Union Street, Lafayette, IN 47904 – 765-429-5411