What is the Mortgage Forgiveness Debt Relief Act of 2007?
by Ross Hair on November 22, 2008
in Consumer Issues
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The Mortgage Forgiveness Debt Relief Act of 2007 was enacted on December 20, 2007 (see News Release IR-2008-17). Generally, the Act allows exclusion of income realized as a result of modification of the terms of the mortgage, or foreclosure on your principal residence. Read more..
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