We recently went through a loan modification and now owe $195,000 on a house we originally...
financed for $180,000. If we have to offer deed in lieu of loan in the future, does that mean we will be taxed on the additional $15,000?
I believe the amount you owe taxes on is the difference between what you owe and the value of the property at the time you do the deed in lieu of foreclosure, regardless of the original value. So if the property's value has dropped since you bought it, you might owe taxes on more than $15,000. You really should consult with a good accountant on this to be sure.
by Shepherd's Lamb 19 months ago
I just want to discuss what's going on in my little head right now and hope to hear from those of you more educated on the subject.I qualified to buy a condo in 2004 (six years ago). I paid $6,000 cash for closing. Two years later I refinanced to get into a fixed interest rate of 5.5%...
by wishingonastar 7 years ago
Let me start off by saying that this loan is a Freddie Mac loan. This loan has been sold so many times throughout the 10 years I have lived here. I fell on hard times and tried for a loan modification. My lender granted me a modification, or so I thought. They recalculated my income and...
by king1964 7 years ago
Loan modification with Chase Declined due to my Mortgage being with Ginnie Mae Investors, FHA...Loan.............WHY?????
by blackbob 6 years ago
I am with Bank of america and they have granted me a hardship loan for the next 3 months. What are my chances of getting a loan modification and does anyone really know what the guidelines are I cant get an answer from them on this. Has anyone had a hardship loan and then was able to...
by Lorelei522 8 years ago
what do i owe on my student loan!!!What do I owe on student loan to Colorado university onlineAre you saying I owe408.000 Dollors on a student loan!!I Can Not beleive that and if it is true there is no way I can pay that
by backporchstories 6 years ago
Do the Irag Soldiers owe a thanks to the Vietnam Vets for the positive treatment they receive today?We know the Vietnam Vets where mistreated and misunderstood when they first came home from that war, but as their stories gave light to the suffering, the country slowly turned their views from baby...
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