With the Obama administration and private lenders actively considering mortgage-principal-reduction programs to help financially distressed homeowners, the Internal Revenue Service has issued an advisory to taxpayers who receive — or seek to receive — such assistance if it’s offered. Editor’s Note: The only thing I would add to this, for the moment, is that any […]

Tags: cancellations, damages, distressed homeowners, forgiveness of debt, Form 1099-C, Form 982, income tax, IRS, Obama, Ocwen, principal reduction, principal residence, real estate taxes, Ron Faris, subprime loans
Posted in bubble, Corruption, Eviction, securities fraud |