The Senate Finance Committee recently approved legislation by a bipartisan vote of 19-5 to extend tax relief for principal forgiven on a mortgage, which is set to expire at the end of this year, and restore the mortgage insurance deduction that expired at the end of 2011. The “Family and Business Tax Cut Certainty Act of 2012” approved by the Senate Finance Committee would extend both tax breaks through 2013. Prospects for the legislation are murky, according to industry analysts, as Republicans are working to limit the extension of certain tax breaks. “This markup is not...