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To have something forgiven it implies an agreement between the borrower and the lender. If there is money owed even after the property has been sold the borrower can use bankruptcy to clear personal debt. Consult with an attorney to understand the implications of any such action or to have an agreement to forgive the debt reviewed.
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Is money received as surplus from a foreclosure taxable?
Not only money received but also debts forgiven from credit cards, car loans, etc. Any and all debts forgiven or wiped away through bankruptcy courts are taxable as income.
Can a lien lead to foreclosure?
Check this post, it talks about liens and foreclosure. http://www.foreclosedpropertiesdata.com/blog/foreclosure-help/how-liens-can-lead-to-foreclosure/
What is the best recommended foreclosure website?
There are agencies who can help you to stop foreclosure. I have saved my house from foreclosure and if you have a foreclosure property then those agencies will buy it at a great price. For foreclosure guide you can visit myprgenie.com you will get stop foreclosure guide by 2brothers real estate
What happens to your down payment in foreclosure?
The money is gone after foreclosure.
What is a current account deficit?
current account deficit
Can you be sued for a foreclosure deficit?
Yes you can be sued for the difference or the lender can issue you a 1099 for the amount still owed then you will owe taxes on the difference
Is money received as surplus from a foreclosure taxable?
Not only money received but also debts forgiven from credit cards, car loans, etc. Any and all debts forgiven or wiped away through bankruptcy courts are taxable as income.
How does a Deed in Lieu Foreclosure affect Socia security benefits?
A Deed in Lieu Foreclosure can impact Social Security benefits if the forgiven debt is reported as income, potentially increasing the recipient's income and affecting benefit eligibility. It is important to consult with a tax professional to understand the implications on Social Security benefits.
If my home goes to foreclosure and I don't file bankruptcy will I have to pay the difference owed?
You are responsible for it, although how hard it is pursued depends...if you have other assets of value...expect it to be pursued fairly strongly. If it is forgiven, it becomes taxable income, you will receive a 1099C for the amount and pay tax on the amount forgiven.
What is a foreclosure dismissal?
Foreclosure dismissal is a simple foreclosure challenge that can be filed to the foreclosure complaint even without an attorney.Added: A foreclosure dismissal is a court order dismissing a foreclosure action.
What is foreclosure help?
Foreclosure help is advice and help you can get from an organization or service that will help you through a foreclosure or help you stop a foreclosure. Foreclosure Help and Hope is an organization that can help.
Can a lien lead to foreclosure?
Check this post, it talks about liens and foreclosure. http://www.foreclosedpropertiesdata.com/blog/foreclosure-help/how-liens-can-lead-to-foreclosure/
When was Am I Forgiven created?
Am I Forgiven was created in 2010.
What is the best recommended foreclosure website?
There are agencies who can help you to stop foreclosure. I have saved my house from foreclosure and if you have a foreclosure property then those agencies will buy it at a great price. For foreclosure guide you can visit myprgenie.com you will get stop foreclosure guide by 2brothers real estate
What is a consent judgment in a foreclosure?
A consent judgment in a foreclosure is whereby a borrower with a pending foreclosure agrees to get into a judgment for foreclosure. This will not require further legal representation.
How do you calculate nominal deficit?
nominal deficit is the deficit determined by looking at the difference between expenditures and receipts.real deficit: nominal deficit - (inflation x total debt)
Can a mortgage borrower apply for court foreclosure?
No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.
