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John P Fazzio
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John Fazzio’s Answers

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  • My mom passed away in October of last year and I know I have to do her taxes for 2014. What information do I need to do them?

    All I got in the mail for her was her SS Benefit Statement is there anything else that I need to do her taxes? She doesn't have a W2 or anything be she wasn't working in 2014, she just got SS benefits.

    John’s Answer

    SS Benefit Statements, 1099s, including 1099-INT for any bank accounts. Best thing is to have a tax preparer pull her tax transcripts if you are on as Administrator, you can sign a Power of Attorney with IRS to get the exact data.

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  • I was incarcerated from 07' to 2010. I accumulated a substantial ammount if arrears. 7200 ti be exact. My paycheck and taxes has

    Taxes was garnished. Presently I cant find a job. Im trying to get my license and cdl si I can provide for my kids. Now I got a warrant for non payment. I don't know what to do.pleas help

    John’s Answer

    It sounds like you have a tax levy and garnishment order in place, but it is not clear if it is for IRS or NJ. It sounds like you probably qualify for "Currently Not Collectable" status under IRS guidelines. If you were to meet with a Tax Attorney or Enrolled Agent, they should be able to collect your financial information, get a Power-of-Attorney on file, and resolve your case fairly quickly for a reasonable rate. The only caveat is that you will need someone assigned to the case on the tax side in order to get a really quick result. For debts of this size with IRS you can call-up by phone yourself and get a payment plan immediately without verification of income, and get a small regular monthly payment plan. That would be the best move if you can't afford a Tax Attorney or Enrolled Agent. Mention the "Streamlined IA" and "Fresh Start Initiative" when you call. Say you read about them online but don't know all the details. They should be able to help you if you mention those items.

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  • What should be my tax filing status if my was not in US for whole tax year and doesn't have SSN, never travelled to US

    Hi I am an Indian married but my wife was never in US in the tax year. What should be my filing status, I am using turbotax to file my returns, when I am trying to file as married filing separately, its asking for SSN of wife! please advice, ...

    John’s Answer

    This is a very tricky question. We have done extensive research on this topic and there is a narrow exception through which you can file as single due to the fact that your wife is not a resident and did not reside in the United States. But, if you want to properly take this position, you really need to consult with a competent Tax Attorney or Accountant who is familiar with these issues, as, among other things, you will need to make proper disclosure of the position being taken.

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  • What should be my tax filing status?

    Hi Sir, I am an Indian married but my was never in US in the tax year. What should be my filing status, I am using turbotax to file my returns, when I am trying to file as married filing separately, its asking for SSN of wife! please advice, ...

    John’s Answer

    This is a very tricky question. We have done extensive research on this topic and there is a narrow exception through which you can file as single due to the fact that your wife is not a resident and did not reside in the United States. But, if you want to properly take this position, you really need to consult with a competent Tax Attorney or Accountant who is familiar with these issues, as, among other things, you will need to make proper disclosure of the position being taken.

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  • Can a lien holder on my home force a foreclosure in order to get paid?

    Through a probate mediation, I was awarded my family home. Litigation took 4 1/2 years, and during the final year of the case, the attorney asked me if I wanted to sign a contingency agreement for payment rather than his fee of $300/ hour. The a...

    John’s Answer

    Sounds like a tricky situation. The attorney can generally work out any deal that you agree to. A lien holder can sometimes force a foreclosure to get paid, but generally needs to have a superior lien to be permitted to do so. You should consult a local attorney on these issues.

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  • Do I have a case

    My wife and I bought a house in 2007 my payments were 1800$ a month for the mortgage we were making 3000$ a month net pay our house foreclosed around 2012 now I look back and realized that the bank should have known there would have been no way we...

    John’s Answer

    You may have a case for predatory lending, improper underwriting of your loan, or modification fraud. It is difficult to know for sure without reviewing all of the facts. You state the house "foreclosed" in 2012, so I am assuming you lost the property. You should certainly consult with a lawyer regarding your rights in this matter.

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  • Is there anything I can do about a corrupt mortgage lenders

    I bought a building and opened a business but now that I lost it all I feel they set me up to fail when I went to settlement the money I had for down payment was in the stock market and it was short 40.000.00 so the company told me you have to ta...

    John’s Answer

    Your question trails off. Short answer is that if the Lender improperly applied settlement monies, forced you to collateralize the loan improperly, failed to apply insurance to timely cover and repair damages to the property, improperly handled insurance proceeds, or improperly initiated foreclosure proceedings, you may have rights. From the information provided, it is a little difficult to ascertain where you may be in the process and what you need to do at this time. Because you are talking about a "business" property, you may have bankruptcy recourse as well as traditional foreclosure defense and civil litigation options.

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  • Release of lien of a mortgage (when another mortgage company bought it) was sent to the wrong county.

    Over 10 years ago home mortgage was packaged and sold to another mortgage company. The original company sent the release of lien but listed and sent it to the wrong county. 10 years later now a lien is showing (although the mortgage was bought, ...

    John’s Answer

    You can re-file the release of lien in the proper county. GMAC's assets were acquired by Ally and then Ocwen. Ocwen can help you to get the lien removed properly (assuming they were the final lender when the property came to rest).

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  • NJ Foreclosure-what be the reason for a Plaintiff, to Voluntary Dismiss the Complaint, after it had won SJ Motion?

    Complaint Answer Plaintiff's SJ Motion-Granted Defendant's Motion for Reconsideration-never heard-Plaintiff Dismissed Complaint day before Hearing Discovery hadn't ended when SJ Motion was heard NOI was defective-it w...

    John’s Answer

    • Selected as best answer

    Under U.S. Bank v. Guillaume, the bank must provide a Notice of Intent to Foreclose ("NOI") that names the proper lender. The bank most likely realized that although the Court did not hold its feet to the fire, the defective NOI could create problems down the line, and chose to fix the error. This might have been for purposes of title or to clear up an application for reimbursement under a Federal subsidy program.

    It sounds like the Motion for Reconsideration prompted the dismissal in this case. You now have the leverage to work on getting a favorable modification completed while there is no lawsuit pending. Do not be surprised if the lender or servicer changes during the period.

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  • What are the most risk involved with buying a foreclosure.

    what are the most risk involved with buying a foreclosure. who is best lawyer in Newton , Nj for foreclosure buying

    John’s Answer

    For a purchase of a property in foreclosure you want to ensure you are getting clear title. A lawyer who specializes in foreclosure will generally have the necessary real estate background to help you with the purchase. The greatest risk is ensuring that all liens are satisfied at the closing so that there is clear title and making sure that any necessary bank approvals for the underlying liens are expeditiously obtained---although, this is primarily a function of Seller's Counsel that Buyer's Counsel simply overseas.

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