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The IRS cannot withhold the refund if your house is foreclosed on. However, if the mortgage debt forgiveness results in the IRS treating you as having more taxable income, it may reduce or eliminate the refund. If you've recently been foreclosed on, talk to a tax professional to see if it will affect your tax refund.
What else can I help you with?
Does PMI pay the forclosed house off?
i believe it does pay the mortgagee, and satisfies it with them, but doesn't absolve you of repayment (what is left after they sell the house).........but i'd call (or read the policy) on your mortgage insurance
If your house in foreclosure and is up for sale can it still be forclosed on by the lender?
Yes, the act of listing your home for sale will not stop or stall the foreclosure proceedings. Homes can be listed for sale for months and even years.
Do you receive money back on taxes for purchasing a house?
Yes, you may be eligible for tax deductions and credits when you purchase a house, which can potentially reduce the amount of taxes you owe or increase your tax refund.
What is the process for claiming a tax refund for buying a house in 2015?
To claim a tax refund for buying a house in 2015, you need to itemize your deductions on your tax return. This includes deducting mortgage interest, property taxes, and any points you paid when you purchased the house. You will need to fill out IRS Form 1040 and Schedule A, and provide documentation of your expenses. Make sure to keep all relevant receipts and records for your records.
How much money do you get back in taxes for buying a house?
The amount of money you get back in taxes for buying a house depends on factors like your income, the cost of the house, and tax laws. You may be able to deduct mortgage interest and property taxes, which can reduce your taxable income and potentially increase your tax refund.
What are current prices of a house?
That will depend on the square footage of the house,and if you can find a forclosed property you can reduce the price substanstually.
Can you evict tenants for nonpaiment if house is being forclosed?
Right up until the foreclosure sale, yes.
Why was francis house forclosed on in kit kitterdge the movie?
The father's auto dealership failed and he could not make the payments.
Does PMI pay the forclosed house off?
i believe it does pay the mortgagee, and satisfies it with them, but doesn't absolve you of repayment (what is left after they sell the house).........but i'd call (or read the policy) on your mortgage insurance
If your rental property is forclosed, will you loose the house you currently live in ?
there is a possibility that will happen becuase it is a rental property not a leased or buying option where you would have more options to keeping if you were a home owner.
Have you noticed any red insect eggs in your house recently?
No, I have not noticed any red insect eggs in my house recently.
Have you noticed any small gray bugs in your house recently?
Yes, I have noticed small gray bugs in my house recently.
Have you noticed any small grey bugs in your house recently?
Yes, I have noticed small grey bugs in my house recently.
Have you noticed any tiny grey bugs in your house recently?
Yes, I have noticed small grey bugs in my house recently.
Are there any signs of brown bug eggs in your house that you have noticed recently?
Have you seen any brown bug eggs in your house recently?
If your house in foreclosure and is up for sale can it still be forclosed on by the lender?
Yes, the act of listing your home for sale will not stop or stall the foreclosure proceedings. Homes can be listed for sale for months and even years.
Can you buy a house and then foreclose on the first house and will it affect the recently bought house?
yes you can
