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January 17, 2010 at 9:34 PM #503678January 17, 2010 at 10:45 PM #503708scaredyclassicParticipant
the tax on “forgiveness of indebtedness income” related to such sales had been suspended for awhile, right? is it still suspended?
January 17, 2010 at 10:45 PM #503958scaredyclassicParticipantthe tax on “forgiveness of indebtedness income” related to such sales had been suspended for awhile, right? is it still suspended?
January 17, 2010 at 10:45 PM #503615scaredyclassicParticipantthe tax on “forgiveness of indebtedness income” related to such sales had been suspended for awhile, right? is it still suspended?
January 17, 2010 at 10:45 PM #503216scaredyclassicParticipantthe tax on “forgiveness of indebtedness income” related to such sales had been suspended for awhile, right? is it still suspended?
January 17, 2010 at 10:45 PM #503069scaredyclassicParticipantthe tax on “forgiveness of indebtedness income” related to such sales had been suspended for awhile, right? is it still suspended?
January 18, 2010 at 8:15 AM #503660ugsfugsParticipantI believe it is , but I would have to check. What that means though is that an borrower would not be taxed on the forgiveness of debt. It does not relate to whether the government could go after the borrower for the difference between what the property sold for and what he owed.
January 18, 2010 at 8:15 AM #503753ugsfugsParticipantI believe it is , but I would have to check. What that means though is that an borrower would not be taxed on the forgiveness of debt. It does not relate to whether the government could go after the borrower for the difference between what the property sold for and what he owed.
January 18, 2010 at 8:15 AM #503261ugsfugsParticipantI believe it is , but I would have to check. What that means though is that an borrower would not be taxed on the forgiveness of debt. It does not relate to whether the government could go after the borrower for the difference between what the property sold for and what he owed.
January 18, 2010 at 8:15 AM #503114ugsfugsParticipantI believe it is , but I would have to check. What that means though is that an borrower would not be taxed on the forgiveness of debt. It does not relate to whether the government could go after the borrower for the difference between what the property sold for and what he owed.
January 18, 2010 at 8:15 AM #504001ugsfugsParticipantI believe it is , but I would have to check. What that means though is that an borrower would not be taxed on the forgiveness of debt. It does not relate to whether the government could go after the borrower for the difference between what the property sold for and what he owed.
January 18, 2010 at 8:18 AM #503665jpinpbParticipantI’d say the government is attempting their best to keep people from walking, at least for a while. For example, so many people jumping on board for that measely 8k credit (I’ve even considered it) but you have to be in the home for 3 years. Otherwise, I guess you have to pay the gov 8k back, maybe w/interest? Don’t know. And as mentioned on another thread, maybe they’ll waive paying it back. Who knows what they’ll think up down the road. But they are trying to keep you in the home any way they can for as long as they can. That is a very good point about FHA. Does anyone know if it is recourse? That would be something very important to know.
January 18, 2010 at 8:18 AM #503266jpinpbParticipantI’d say the government is attempting their best to keep people from walking, at least for a while. For example, so many people jumping on board for that measely 8k credit (I’ve even considered it) but you have to be in the home for 3 years. Otherwise, I guess you have to pay the gov 8k back, maybe w/interest? Don’t know. And as mentioned on another thread, maybe they’ll waive paying it back. Who knows what they’ll think up down the road. But they are trying to keep you in the home any way they can for as long as they can. That is a very good point about FHA. Does anyone know if it is recourse? That would be something very important to know.
January 18, 2010 at 8:18 AM #503758jpinpbParticipantI’d say the government is attempting their best to keep people from walking, at least for a while. For example, so many people jumping on board for that measely 8k credit (I’ve even considered it) but you have to be in the home for 3 years. Otherwise, I guess you have to pay the gov 8k back, maybe w/interest? Don’t know. And as mentioned on another thread, maybe they’ll waive paying it back. Who knows what they’ll think up down the road. But they are trying to keep you in the home any way they can for as long as they can. That is a very good point about FHA. Does anyone know if it is recourse? That would be something very important to know.
January 18, 2010 at 8:18 AM #503119jpinpbParticipantI’d say the government is attempting their best to keep people from walking, at least for a while. For example, so many people jumping on board for that measely 8k credit (I’ve even considered it) but you have to be in the home for 3 years. Otherwise, I guess you have to pay the gov 8k back, maybe w/interest? Don’t know. And as mentioned on another thread, maybe they’ll waive paying it back. Who knows what they’ll think up down the road. But they are trying to keep you in the home any way they can for as long as they can. That is a very good point about FHA. Does anyone know if it is recourse? That would be something very important to know.
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