Housing Bubble Central - Real Estate News That Affects You
Housing Bubble Central header image 2

For the Distressed, Tax Relief. For Others, a Bigger Bite.

October 6th, 2007 · Permalink



In a tax-Peter-to-pay-Paul move, the House voted Thursday to permanently remove the “phantom income” tax penalty that haunts financially distressed homeowners whose debt is partially forgiven by a lender after a foreclosure or a short sale to avoid foreclosure.

Article Source