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: The Home Equity Theft Reporter

Income Tax Hit Bites Some Underwater Homeowners

By r morris

The Wall Street Journal reports:[Homeowner] Maxine McDaniel has a message for Americans considering walking away from an unaffordable mortgage: Beware of taxes. Though not every homeowner who's underwater on a mortgage need worry, many are finding that a foreclosure or other form of housing loss can lead to a big tax obligation.***In many of those instances, say Treasury officials, homeowners

Full post as published by The Home Equity Theft Reporter on May 14, 2010 (boomark / email).