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    Jumbo Chase 1st And Heloc Quandry

    Just some thoughts, I may be wrong but Since your credit scores are already shot and your retirement accounts are protected in bankruptcy and no other assets why don't you speak with a bankruptcy attorney to see what your options are? Unless you can't qualify to file because of your high income...
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    Just Started "scorched Earth" Method. Couple Questions..

    The longer the account is in default the better chance you have of settling for less also, for getting sued. I would be checking the court house website regularly to be for-warned of any suits filed. It has been a few years since I had to settle many accounts but I would think that things have...
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    Getting A Free Current Credit Report

    Creditkarma.com does not charge and gives you a score that I believe is pretty accurate, I've used it for over a year maybe 2? and they have never charged. also I believe bankrate.com has a free report & score.
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    Long Term Capital Gains Tax Rate

    I would check with at least 2 other accountants, I think he is wrong or maybe he does not realize that the capitol gain amount is going to kick you into a higher tax bracket. Just like the IRS, I have found that accountants will also give different answers to the same question. It is a large...
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    Long Time Listener. First Time Caller... Cc Roulette?

    If it looks like you will need to use all your savings just to settle, I would not do it, your credit will suffer and you will be broke. What happens if you have an emergency or your income is decreased? I also would not contact them for a settlement but wait for them to contact you otherwise...
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    Long Term Capital Gains Tax Rate

    I also have tried to get a clear understanding of this and have not had much success. I believe that you will owe tax because I believe that you have to take into account your capitol gain amount and add that to your ordinary income in order to determine your tax rate. In another words, the...
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    Dyck O'neal

    My understanding is : If the foreclosure took place in December 2008 then they would have had to file suit for deficiency no later then December 2013. if they filed after that date, your attorney should have had the suit dismissed and you should not have to settle. When was the deficiency suit...
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    Re: 2013 New Statute And Short Sales In Florida

    They can continue to send you collection letters even after the SOL has passed, they are just hoping that you will somehow contact them & they can convince you to make a payment or something that they can use to re-age the debt. Although they can file in the next month, I doubt that they will...
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    Canceled Sheriff Sale

    It could have been cancelled for any number of reasons, mine was cancelled at the very last second by the county due to improper notice of sale ( the newspaper notice of sale that must be advertised did not meet the requirements) it was rescheduled and sold 3 months later. I had to call the...
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    Long Time Waiting In Nevada

    I would get a couple of free consultations from some good foreclosure or real estate attorneys and see if maybe squatter's law can be enforced especial if you have been paying the property taxes. Its probably a stretch but I recall a few years ago sitting at my attorney's office and he was...
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    Citation By Mail (foreclosure)

    Are you sure that is a real foreclosure notice? At the very least I would think that they would have to send it certified mail to ensure that you get it, what proof do they have that you received it? I could be wrong but I thought that you have to be personally served or, notice posted on the...
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    1099-c Back After 3 Years Ago To See If Any One Has An Answer Yet

    That is unbelievable, the bank keep doing whatever they want and nobody stops them. I don't have any real solutions just opinions on what I would try. 1) If it has been a while since you checked, I would again check with public records in case they have since filed a satisfaction of mortgage...
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    If You Settle Your Second Mortgage Do You Pay Taxes On The Forgiven Amount?

    Unfortunately that is the down side of settling. They will send you a 1099c (cancellation of debt) and will have to report it on your taxes. If at the time of settlement your debts are more then your assets then you may be able to file form IRS form 982 (reduction of tax due on discharged debt...
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    Lease Termination Fees In California

    I do not know California's laws but in most if not all states, if you have a lease and break it without a termination clause, the landlord can sue you and get a judgement for the balance of the lease. When a tenant vacates a rental, a landlord has various expenses in getting a unit rented...
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    Payments Made To Collector!

    What does the settlement letter say? It should show the original creditor & state that it is payment/settlement in full. If that is the case send a copy to the credit union & tell them as far as you are concerned you do not owe anything else. Yes, the entire 10k should have gone to the credit union.
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    How Do You Know If A 1099-c Was Reported To The Irs

    I would wait another week or so, they are supposed to mail the 1099's by January 31st so it could still be in transit. If you don't receive one then I would wait till the 1st week in March and then call IRS and ask them to tell you what has been filed for you. Even though they have to mail your...
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    Settling Second: Amount Appearing On Credit Report?

    Hi Moe, I thought that the mortgage debt forgiveness act was signed/extended through 2014 making short sales, foreclosures and modifications finalized during 2014 not subject to taxes due. My understanding is that all COD income for homesteaded and 2nd homes will not be taxed for 2014, am I...
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    Help, Help ! How To Avoid Eviction Process Post Foreclosure?

    Don't worry about the county records, they will eventually get updated, the trustee will mail them the new deed and that can take several weeks depending on how backlogged the trustee and county are. As far as the new owners accusing you of leaving the house in bad shape, that absolutely...
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    Chase Short Sale And 3k Moving Expenses

    It sounds like your buyers got a great deal, maybe they can kick in a couple of thousand $$ (under the table) to not lose the deal? Even though I consider myself a Christian, I have found that the people/businesses that advertise their Christianity/religion are the one's that will try to beat...
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    Chase Short Sale And 3k Moving Expenses

    You have to do what is right for you & what you are comfortable with. You could try to get more $$s from them by threatening to cancel the short sale and wait for foreclosure but you have to be willing to do that if they call your bluff. I always prided myself for having a good credit score but...