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A Boston community development group is calling on Congress to extend federal tax breaks that have helped hundreds of struggling homeowners in Massachusetts and across the nation to avoid losing homes to foreclosure.
Boston Community Capital said that the program known as the Mortgage Forgiveness Debt Relief Act is still needed even as the foreclosure crisis has subsided in many parts of the country, aided by rising home prices and rebounding sales. The program is set to expire at the end of the year.
“If you are living in an inner city area, your home price is not up, and your ability to sell at full market value is really not present,” said Elyse Cherry, the organization’s chief executive. “Things have improved,” but not everywhere.