If you are a seller and you owe more than your house is worth, you may not want to kick the ball down the street until next year.  The debt forgiveness bill that expires in 2012 for permanent residences is something sellers should take a serious look at.  For example, if I purchased a home for $200,000 and then sold it at market value for $100,000, I would not have to pay taxes on what is considered $100,000 in earnings.  After December 2012, this may no longer be available to borrowers!    Read the rest of this entry