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Entries Tagged as 'loan modification'

How to Know if Your Canceled Mortgage Debt is Tax Exempt

March 14th, 2011 · 4 Comments · Taxes

Whether it was through a loan modification, short sale or foreclosure, the mortgage debt you have been forgiven does not count as taxable income provided it meets two main qualifications.

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Raise Your Hand if You Received an Unsolicted Mortgage Restructuring Offer

July 30th, 2010 · 1 Comment · Mortgages

Since I live in the Phoenix AZ area, I have lots of friends who have applied for mortgage modifications (a.k.a. loan restructuring). Due to the apparent backlog at the banks, I’ve had an unfortunate ringside seat at the miserable sagas of friends who are desperate to do the right thing and pay off their home [...]

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Can’t Get a Loan Modification? Buy Your Home Back in a Short Sale

May 18th, 2010 · 15 Comments · Mortgages

Under the current rules for the federal program, servicers have been barred from conducting a foreclosure sale if the homeowner requested a modification, but are allowed to push along the process, even set a sale date. That allows them to foreclose more quickly if they determine the homeowner doesn’t qualify for a modification. As a [...]

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Two Regular Guys Take on the FDIC

February 26th, 2010 · No Comments · Mortgages, Real Estate

Getting outside of the “credit” box, I thought you would find the video down below of interest. It comes from a couple of guys who are actually doing something about all this financial craziness swirling around us. These guys are from Thinkbigworksmall.com (TBWS) which according to their website was founded in 2007 and has “a vested interest [...]

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