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    Mortgage Debt Forgiveness Relief Act

    It looks like there may be life left in the attempt to renew the act. The House has "...approved a package of extensions of tax breaks that expired in 2013." It still has to go to the Senate and, we know anything can happen or be stripped, then to the President's desk. KEEP WATCHING THE...
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    My Dance Begins

    We walked from the old house last Fall. It was dangerous to us because of some step-ups and downs and too large for us to maintain as we're getting older. A prior short-sale on the street pulled the sale prices down to below my mortgage. So, we bought a new home which was safer and smaller...
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    Need Cpa Or Attorney To Give Clarification On Foreclosure Tax Issue

    I am currently in foreclosure - not yet served but the complaint is filed. My only significant issue is avoidance of a deficiency and avoiding tax on income from cancelled debt. Therefore, based on my reading of IRS pub. 4681 it would appear I am better off letting it foreclose and fighting...