Mortgage Debt Forgiveness, IRS Tax Tips, March 5, 2009 –TT-2009-44
Here is a tax tip from the Internal Revenue Service about mortgage debt forgiveness:
If your mortgage debt is partly or entirely forgiven during tax years 2007 –2012, you may be able to claim special tax relief and exclude the debt forgiveness income.
Normally, debt forgiveness results in [...]
Read the full article »
DOES THE MORTGAGE CREDITOR GET INTEREST ON THE ARREARAGE PAID IN THE PLAN?
By Jan Hamilton, Standing Chapter 13 Trustee
Frequently, arrearages on real estate mortgages are paid through the plan. Do they bear interest or not? If they do, at what rate?
While Judge Somers has (essentially on behalf of all of the judges in Kansas), ruled [...]
Read the full article »