Some cool apartment developing images:
Apartment creating at Marine Drive
Image by aromanos
Apartment building at Marine Drive
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Question by curious mind: FHA help for homeowners program, drug do the homeowners have to pay tax on the amount that is forgiven?
With this loan modification program, discount Help 4 Homeowners, more about by FHA, will the homeowner have to pay a tax on the amount of the home loan that if modified, or forgiven, by the original lender? Will there be a balloon tax for that amount?
Best answer:
Answer by kunjaldp
If the debt is forgiven, then it is taxable as ordinary income, but I believe there is a law in making that would make it non-taxable as long as it was on your home which is about to be foreclosed.
Know better? Leave your own answer in the comments!
Home Affordable Refinance Program Eligibility Requirements Will Make …
Madison, order WI — (SBWIRE) — 11/07/2012 — One may now think of determining Home Affordable Refinance Program HARP Eligibility even if had been denied for the plan earlier. The federal … Recently, see the government announced enhancements to the Home …
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Wells Fargo to Help Sarasota Area Customers Facing Mortgage Payment …
Homeowners whose loans are "under water" – meaning they owe more on their mortgage than the value of their home – may be eligible to refinance their loan based on criteria including demonstrating ability to repay. Depending on eligibility for a loan …
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