(Called Recast for FHA) If you have incurred a long term financial hardship, our office can help you in supplying the appropriate information to lender to take t … All property taxes must be current or you must be participating in an approved payment plot with your taxing authority to be eligible for a modification….If you are approved for a deed-in-lieu, you will be giving up all rights to the property and the property will be conveyed to your investor.
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Loss Mitigation Programs That Stop Foreclosure Quick!
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. ... A few other noteworthy features of the IRS rules: If you've been foreclosed upon or you do a short sale and lose money in the process, don't claim a tax loss on your federal filing. ...