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The Mortgage Forgiveness Debt Relief Act and Debt Cancellation
Posted under: Market Conditions in Newport Beach
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September 17, 2009 9:46 AM |
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If I sold my home at a loss and the remaining loan is forgiven,
does this constitute a cancellation of debt?
Does the Mortgage Forgiveness Debt Relief Act apply
to debt incurred to refinance a home?
The complete IRS code answer:
http://www.irs.gov/individuals/article/0,,id=179414,00.html
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