PATH Act offers tax relief for struggling homeowners

NAR-backed legislation extends other real estate-related tax credits through 2016
  • The Protecting Americans from Tax Hikes (PATH) Act of 2015 was signed into law by President Barack Obama on Dec. 18.
  • The legislation protects homeowners with underwater mortgages from incurring a large tax bill, provides incentives for energy-efficient property and eases restrictions on commercial real estate investments.
  • The National Association of Realtors supports the tax extenders and how they will benefit consumers, homeowners and property investors.

A piece of NAR-backed tax legislation signed last week by President Barack Obama extends several expired tax provisions designed to support homeowners by providing tax relief from mortgage debt forgiveness and tax credits for real estate investors.