If you borrow money from a financial institution and that financial institution forgives some amount to you, it will be added to your taxable income under the mortgage forgiveness act 2007. For example, you borrow $10,000 and default on the loan after paying back $2,000. If the lender is unable to collect the remaining debt [...]
Posts under ‘Foreclosure Laws’
About the NAFPP
The National Association of Foreclosure Prevention Professionals was formed to ensure consumer education appropriate with the financial ramifications of foreclosure and ensure the highest possible level of ethical consultation.
There are many confusing claims, misleading advertising, and simply bad information. Some businesses and people may have outrageous, unaffordable commissions and hourly rates. They may promise things [...]