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I settled a lawsuit against my bankruptcy attorney for
I settled a lawsuit against my bankruptcy attorney for negligence. We followed his advice about a mortgage modification but my bank offered to refi my current mortgage at that time, long story short i… read more
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I am selling my home and I have IRS tax liens. My lawyer has
I am selling my home and I have IRS tax liens. My lawyer has submitted a request to the IRS to release the liens and accept whatever is left after the mortgage is paid. Why does it take about 4 weeks … read more
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Trying to buy property that joins mine, it has a 55,000
Trying to buy property that joins mine , it has a 55,000 dollar tax loan on it . How can I buy this land from the owner ,the tax lean is on land from her x husband but land is in her name … read more
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This is complicated... and I apologize in advance but I am
Ok. So this is complicated... and I apologize in advance but I am lost here. I received a 1099-c from Chase with an identifiable event date of 5/14/18 for debt discharged totaling $24,982.07 and reporting Code G – Decision or policy to discontinue on the 1099-c form. It appears that this debt is from a home equity loan on my marital residence. I separated from my husband in 1/2009. I filed for Chapter 13 Bankruptcy on 5/26/2009 and after a 5 year repayment plan, my bankruptcy was discharged on 11/10/14. I have a Trustee payment sheet reflecting that over the course of my 5 year repayment bankruptcy plan that Chase was paid $180.00 total toward their “claim” amount $25,536.86. My divorce was final in June 2012. The 1st mortgage on the marital home was refinanced by my ex-husband on 7/24/15 and does not to appear to have included the balance owed on the home equity loan. However, I have a letter dated 5/21/15 from Chase for the “discharged debt” indicating “We're releasing the lien on your property” and “We're releasing our security interest and you owe nothing on this account.” It is important to note also that my ex received a 1099-c for the same exact amount. It is further important to note that the identifiable event date of 5/14/18 is approx.. 3 years from the date of the Chase “release” letter of 5/21/15. So, the questions are: (1) do I have to report this as income? (2) if so, do I only report ½ since my ex would be responsible for the other ½? (3) how can I be responsible for this if it was part of my bankruptcy? And (4) if it was part of my bankruptcy and payment was made of $180.00, does that mean that my ex is responsible for the entire amount on the 1099-c and that I am not responsible for any of it? I appreciate your help with this matter. Thank you. … read more
Lane
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Doctoral Degree
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M.: I received a Notification of Lien Release on my 2nd mtg
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THERE WAS A FEDERAL TAX LIEN FILED ON A HOUSE THAT WAS IN MY
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emc011075
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I want a divorce and my husband has a tax Lien on our house
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My home loans (first and second) were discharged during bankrupcty.
My home loans (first and second) were discharged during bankrupcty. After BK, as long as we made payments we could keep our home. An Irs tax lien was placed on the home before BK. There was no equity … read more
Richard
Richard
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Does the IRS automatically file a tax lien on property if there is a tax debt above $25K e
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R. Klein, EA
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This is for Megan C Please help with the calculation of
This is for Megan C Please help with the calculation of the following so I have a better understanding. What is the amount considered to be received or cancelled recourse debt of $50,000 on property w… read more
Lane
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A second is owed on a house, and there is little or no equity
A second is owed on a house, and there is little or no equity to pay it. The second is a line of credit that was taken out against the house for purposes other than remodeling (money used on other thi… read more
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I am Realtor and because of economic difficulties in recent
I am Realtor and because of economic difficulties in recent years, many people I know have had to short sell their homes. In some instances, the short sale included both a purchase money first mortgag… read more
Phillip B, EA
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Hi. I have a few tax questions. 1). I have a tax lien on
Hi. I have a few tax questions. 1). I have a tax lien on my home preventing me from accessing the equity to help us pay some back taxes that were incurred in 2003 when my husband had a very bad reacti… read more
kcox79
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My husband co signed on a loan for our son 8-9 years ago on
My husband co signed on a loan for our son 8-9 years ago on a truck. After a couple of years my son lost his job and we could not afford to keep up the payments on the truck so my son had to turn the … read more
Wendy Reed
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My wife and I are co-signers of a mortgage of a house (50%
My wife and I are co-signers of a mortgage of a house (50% interest) with my daughter. It is her primary residence and up to now she has taken all of the tax deductions for the interest. Last year she… read more
Merlo
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My husband and I took out a 1st and 2nd mortgage for an investment
My husband and I took out a 1st and 2nd mortgage for an investment home. The home went into foreclosure. The bank divided the loan into 2 loans 1st and 2nd mortgage so we would have the down payment f… read more
Ellen
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Trying to get a mortgage; tax lien appearing on credit report
Trying to get a mortgage; tax lien appearing on credit report from 2006; IRS levied our accounts in 2007 to satisfy the tax due. Now IRS won't give a lien release and is saying more money is due. Don'… read more
Merlo
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MY HUSBAND OF 50 YEARS LEFT ME AND OUR HOME WILL BE IN FORCLOSURE.
MY HUSBAND OF 50 YEARS LEFT ME AND OUR HOME WILL BE IN FORCLOSURE. WILL THEY FORGIVE ME OF THE DEBT IF IT DOESNT SELL FOR ENOUGH TO COVE THE MORTGAGES. CAN THEY COME AFTER MY BUSINESS?… read more
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