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Loan Modification

: Loan Modification & Home Loan News

Lose Your Home to Foreclosure? Here Comes the Tax Man

By Moe Bedard

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It is IRS policy to tax forgiven debt you are personally responsible for as if it is income. Say, for example, your credit card company settled a $10,000 debt for 50 cents on the dollar. You?d have a debt forgiveness of $5,000, which the IRS would count as income, just like your wages. The same policy [...]

Full post as published by Loan Modification & Home Loan News on April 09, 2010 (boomark / email).

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Bank of America Faces Class Action over Mortgage Foreclosure Practices

Class Action Filed Against Banks in Foreclosure Proceedings
Class Action Filed Against Banks in Foreclosure Proceedings

Countrywide Financial Corp.
allegedly charged borrowers improper foreclosure fees.

Texas' KB Home Hit with Price Fixing Class Action
Texas' KB Home Faces Price Fixing Class-Action

KB Home Faces Price Fixing Class Action
KB Home Faces Price Fixing Class Action

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