Under the tax law, if the debt wiped out through foreclosure exceeds the value of the property, the difference is normally taxable income. But a special rule allows insolvent borrowers to offset that income to the extent their …
Guide to Avoiding Foreclosure, http://whatcomforum.blogspot.com/2008/10/guide-to-avoiding-foreclosure.html
Posted on October 10th, 2008 by admin
Filed under: debt web guide
