IRS Debt Cancellation & Mortgage Debt Forgiveness
If you are in debt to the IRS, you are at risk for possibly losing your home. This is a horrible situation, as your home will be foreclosed on by the bank or lending institution. Whatever debt is left after your house is sold will be put on a 1099 form, which claims that remaining amount as miscellaneous income. Ultimately, this makes the remainder taxable. Therefore, after you have lost everything, you are still responsible for the rest.
Though this seems like a hopeless situation, you may qualify for a saving grace: the Mortgage Debt Forgiveness Act. Call us today to find out if you qualify. Let us fight for you so you do not have to lose everything. Even if your house is already gone, we may be able to help you get an exemption from the rest of the taxable income so that you can have a fresh start!