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Real Estate & Property Law

: The Home Equity Theft Reporter

Taxable Income From Debt Cancellation Not An Issue For Many "Underwater" Homeowners Where Lender Refuses To Cancel Unpaid Loan Balance On Short Sales

By r morris

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Many people owing more on their mortgages than what their homes are worth are often concerned about the income tax they may have to pay in a short sale if their mortgage lender agrees to accept less than what is owed in order to agree to such a sale.However, before a homeowner starts wondering how much income tax may have to be paid on such a transaction, he/she must first find out if the lender

Full post as published by The Home Equity Theft Reporter on July 31, 2009 (boomark / email).

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