What is the Homeowner Affordability and Stability Plan?
Congress recently passed the Homeowner Affordability and Stability Plan (“the Plan”), which provides various options for homeowners who are feeling the pressure of their monthly …
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The Mortgage Forgiveness Debt Relief Act of 2007
In December 2007, the federal government enacted the Mortgage Forgiveness Debt Relief Act. The Act was meant to provide tax relief to taxpayers who had debt forgiven on their primary residence and to help struggling homeowners. The Purpose of the Mortgage Forgiveness Debt Relief Act The idea behind the law was to help homeowners avoid foreclosures by not taxing them …
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A Homeowner's Rights During Foreclosure
Foreclosure can be an emotionally and financially difficult time in the life of a homeowner and it can affect not only the homeowner but also the homeowner’s spouse and children who live in the home being foreclosed. Therefore, it is important to be aware of your rights as a homeowner during every stage of the foreclosure procedure. State laws vary about the time frame and …
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