Legal Advice for Mortgage Debt — 62 results
Written by attorney Steven J. Fromm, almost 4 years ago.
Principal Residence Exception Allows Exclusion of Up to $2 Million Normally, debt forgiveness results in taxable income. However, under the Mortgage Forgiveness Debt Relief Act of 2007,... more
Written by attorney Robert Branson, about 4 years ago.
HAMP and traditional mods-what we are seeing now The modifications through the government program are as low as 2% sometimes for five years and then stair stepping to the current Freddie... more
Written by attorney James Oberholtzer, about 4 years ago.
Ten Facts for Mortgage Debt Forgiveness If your mortgage debt is partly or entirely forgiven during tax years 2007 through 2012, you may be able to claim special tax relief and exclude the... more
Written by attorney Henry Lively, about 4 years ago.
The Mortgage Debt Relief Act was passed in 2007 as a response to the Mortgage Debt crisis due to sub-prime lending. Congress felt it was necessary to provide relief from taxation of... more
Written by attorney John Mark Wilk, over 4 years ago.
A strategic default is the decision by a borrower to stop making payments (i.e., default) on a debt despite having the financial ability to make the payments.For homeowners, strategic... more
Written by attorney Joseph Wrobel, over 3 years ago.
Let's begin by defining reaffirmation: A reaffirmation is an agreement made between a debtor and his creditor to re-pay a debt, whether it is the entire debt or part of the debt, that would... more
Written by attorney Dan R Dodds, almost 3 years ago.
Although tax day (April 17th this year) has passed, I thought it was still important to inform you of the Mortgage Debt Forgivenss Tips from the Internal Revenue Service (IRS). While... more
Written by attorney Steven A. Harms, almost 4 years ago.
This is hot and important news for debtors and creditors who have mortgages expedited (how ironic) through MERS (Mortgage Electronic Registration Systems, Inc.) in Michigan. The Michigan... more
Written by attorney Seth Rosenberg, over 3 years ago.
At the Federal Trade Commissions request, a U.S. district court shut down two related operations as a result of settlements with defendants who allegedly failed to provide promised debt... more
Written by attorney Henry Lively, about 3 years ago.
The Federal government gave taxpayers a break in 2007when the Mortgage Forgiveness Debt Relief Act of 2007 was signed into law. It allows taxpayers the ability to exclude from income up to $... more