Is now the time to take the plunge and either sell your home or buy a new one

The Oklahoma Society of CPA's says the law that addressed fiscal cliff issues helped clarify some answers about whether this is a good time to buy or sell.
 
Homeowners can keep deducting mortgage interest on their taxes making home ownership attractive versus renting.
 
The new law brought breathing room for people who are underwater; meaning they owe more than their home is worth.
 
There's another year for people to get loan modifications or do short sales without paying taxes on that debt relief.
 
And here's a budget basic:  Your mortgage payment plus property taxes and home insurance shouldn't go over 30% of your income.
 
You can get free help from a certified public accountant through the Oklahoma Society of CPA's.
 
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