1 Articles match "2007","IRS","Sales"

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Bush Foreclosure Solution Just Adds Water
Titled the “Mortgage Forgiveness Debt Relief Act of 2007,” HR 3648 is sponsored by Rep. The IRS currently considers such forgiven debt to be additional gross (and taxable) income for the year. This can directly affect the homeowners’ ability, or desire for that matter, to proceed with such things as short sales and other types of workout situations that may offer them foreclosure relief, for instance. “…the Administration strongly believes this relief should be temporary to assist It wasn’t very long ago that President George W. Bush came out with a public policy statement
www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • Bush Foreclosure Solution Just Adds Water
    Titled the “Mortgage Forgiveness Debt Relief Act of 2007,” HR 3648 is sponsored by Rep. The IRS currently considers such forgiven debt to be additional gross (and taxable) income for the year. This can directly affect the homeowners’ ability, or desire for that matter, to proceed with such things as short sales and other types of workout situations that may offer them foreclosure relief, for instance. “…the Administration strongly believes this relief should be temporary to assist It wasn’t very long ago that President George W. Bush came out with a public policy statement
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE