It could be a grim and grinchy December for thousands of home owners facing ongoing challenges with their mortgage payments and property values.
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Agi Anderson here, the the CEO & Chief Strategist at http://SunflowerVenturesLLC.com Along with being The FSBO Advisor I am a serial entrepreneur and veracious reader who loves sharing informative posts with 10 different topics. I scan the web searching for the best blog scoops about Florida real estate and especially posts that are relevant to Florida For Sale By Owners. I offer an innovative approach and help Florida For Sale By Owners (FSBO’s) $AVE THOUSAND$ of dollars by assisting them to be their own listing representative. Questions? You can call, text or email me using my online Biz Card card at … ContactAgiNow.com.com Curated by Best Blog Scoops |
Yikes! Under the federal tax code, when a creditor cancels a taxpayer’s debt, the IRS treats the amount forgiven as income, taxable at ordinary rates. But in 2007, as foreclosures and short sales began to explode across the country, Congress enacted a temporary exemption for home owners who received cancellations of mortgage debt as part of their loan modification deals with lenders. That exception has been extended periodically by Congress ever since.