The PennyMac Mortgage Blog is where you'll find unbiased, useful info to help save you money, time and peace of mind during the mortgage process. If you have a mortgage or are about to get one, we think you'll find info here you can't always get elsewhere.
America's mortgage industry is slowly recovering. But, according to real estate site Zillow, 16 million homeowners still owe more than their homes are worth. And, while taxes may not be top of mind for these underwater homeowners, there are some helpful advantages afforded to these borrowers via the Mortgage Forgiveness Debt Relief Act.