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Loan Modification

: Loan Modification & Home Loan News

Thinking About a Walking Away From Your Mortgage? Beware of Taxes Due

By Moe Bedard

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If you walk away from a mortgage you don?t want any more, what are the consequences? I wrote about the moral and credit implications in a previous post. A reader emailed to ask about the federal tax implications. ?In my state, the banks send a notice saying that you owe taxes on the unpaid debt,? [...]

Full post as published by Loan Modification & Home Loan News on July 29, 2010 (boomark / email).

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