Am i obligated to pay tax on forgiven debt second mortgage?
Section 108 of the Internal Revenue Code has some protections. It is important that you talk with a competent CPA or tax attorney to determine the...
Phoenix, AZ
Bankruptcy and debt Lawyer at Phoenix, AZ
Practice Areas: Bankruptcy & Debt, Chapter 13 Bankruptcy ... +2 more
Section 108 of the Internal Revenue Code has some protections. It is important that you talk with a competent CPA or tax attorney to determine the...
Yes, the debt is now unsecured, but you still owe it. A bankruptcy will most likely take care of your obligation on the second mortgage. You need...
You own the house until you either transfer it to someone else or the foreclosure is completed. Make sure to keep the insurance current as long as...
Is this an attorney asking the question?
I agree with the prior answer about hiring a foreclosure attorney. Another option is to work with folks at www.makinghomeaffordable.gov. I am...
This is far too complicated a set of questions to answer in this generic forum. Seek advice from a competent tax attorney. Your specific...
Given that Fannie Mae is the owner there is little that he can do about the house. That is unless Fannie Mae agrees to sell it back. I am not...
No. You had two loans, therefore you had two debts. You need to talk to an attorney who is an expert in foreclosures in the state there the...
Remember that the lender cannot sell the house, they are merely the lender. Once they foreclose and if they become the owner, then they can sell...
The easy answer is that her credit will reflect the foreclosure. As to your credit - it should not. But, if you see an issue you can file a...