Morning Minute: Short sales falling out of favor?

The New York Times reports on CoreLogic data that shows fewer distressed homeowners may be opting to sell their home through a short sale, in part because the expiration of the Mortgage Forgiveness Debt Relief Act means they could owe more in taxes. Previously, sellers were exempt from paying taxes on mortgage debt that was forgiven by lenders in a short sale or mortgage loan modification, but that rule expired in December. Read the article and more information from NAR’s Daily Real Estate News.

In other headlines:

Gov. Quinn stops in Marion to promote “Welcome Home Illinois” program – The Daily Republican

CFPB pushes for eClosings – HousingWire

Illinois Home Sales Down But Improving In Long Run: Analyst – WILL

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