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Loan Modification

: Loan Modification & Home Loan News

Without qualifying for exemption, forgiven mortgage debt may be taxed

By Moe Bedard

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(Source: Daily Herald) – WASHINGTON ? With hundreds of thousands of homeowners having negotiated loan modifications or short sales or been foreclosed upon during the past year, the Internal Revenue Service has issued fresh guidance on how to handle canceled mortgage debt in the upcoming tax season. It’s a huge issue, widely misunderstood by consumers, [...]

Full post as published by Loan Modification & Home Loan News on March 11, 2011 (boomark / email).

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