Taxes on Short Sale, Loan Modification & Mortgage Foreclosure 4 Nov08 Interest Rate & Payment

Tax on 1099C, Cancellation of Debt Income; Short Sale, Loan Modification & Foreclosure. Exception; Mortgage Forgiveness Debt Relief Act, Bankruptcy & Insolvency. Go To RealEstateMarketingThisWeek.com Part 4 (Excerpt) 1099 C is for Cancellation of Debt Income Only, not for Interest Rate and Payment Reduction So for people who find themselves in a very difficult situation considering these options whether it’s a loan modification or a short sale, whatever they need to do to relieve themselves …

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