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1099 After Foreclosure | Cancellation of Debt Income

1099 After Foreclosure | Cancellation of Debt Income

Michael David October 13, 2012 0

As we noted in Foreclosure Law, foreclosure is the process by which a bank or lender takes possession of collateral used to secure a loan. Put another way, foreclosure happens to a homeowner when

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Credit Repair After Foreclosure

Credit Repair After Foreclosure

Michael David April 13, 2012 1

How Does Foreclosure Affect My Credit? Foreclosure devastates credit–the only greater “derogatory” on a credit report is a bankruptcy. If you follow your FICO scores, you would tend to see a drop in the

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Can Bankruptcy Stop Foreclosure?

Can Bankruptcy Stop Foreclosure?

thundercow February 6, 2009 0

Yes, bankruptcy can stop foreclosure–but not without careful planning, and not without consequences. Read on to learn how to make this important decision. Bankruptcy Stops All Legal Proceedings Bankruptcy stops all civil legal proceedings,

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What Is a Deficiency Judgement in a Foreclosure | Debt After Foreclosure

What Is a Deficiency Judgement in a Foreclosure | Debt After Foreclosure

Michael David April 23, 2008 0

Will I Owe a Debt After Foreclosure? Well, let’s begin with a different question: will I be sued after a foreclosure? Whether you can be sued after a foreclosure depends on whether your state

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What Is Property?

What Is Property?

Michael David April 22, 2008 0

LearnAboutLaw Staff July 2007 Property is any thing that is commonly recognized as being the possession of a thing or group. Important types of property include real property (land), personal property (physical possessions), and

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Homestead Exemption

Homestead Exemption

Michael David April 21, 2008 1

What is a Homestead Exemption? A Homestead is, quite simply, a legal device that protects a person’s residence (or a portion of it) from creditors. A judgment creditor cannot levy on the homestead portion

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Asset Protection With a Friendly Lien

Asset Protection With a Friendly Lien

Michael David April 21, 2008 1

A friendly lien is simply a lien against property that you own that is held by a party or parties that is friendly to you. Some other terms used to describe this device are

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Foreclosure Law | Foreclosure Help | Stop Foreclosure

Foreclosure Law | Foreclosure Help | Stop Foreclosure

Michael David April 21, 2008 1

What Is Foreclosure?  Foreclosure is the process by which a bank or lender takes possession of collateral used to secure a loan. Put another way, foreclosure happens to a homeowner when he or she

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Deficiency Judgement, Anti-Deficiency Laws, California and Elsewhere

Deficiency Judgement, Anti-Deficiency Laws, California and Elsewhere

Michael David April 21, 2008 3

July, 2007 As we noted in Foreclosure Law, foreclosure is the process by which a bank or lender takes possession of collateral used to secure a loan. Put another way, foreclosure happens to a

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California Foreclosure Law | Foreclosure in California

California Foreclosure Law | Foreclosure in California

Michael David April 21, 2008 2

As we noted in Foreclosure Law, foreclosure is the process by which a bank or lender takes possession of collateral used to secure a loan. Put another way, foreclosure happens to a homeowner when

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1099 After Foreclosure – Cancellation of Debt & Anti-Deficiency

1099 After Foreclosure – Cancellation of Debt & Anti-Deficiency

Michael David April 21, 2008 1

Here we take a closer look at the phenomenon of 1099 Cancellation of Debt income following a foreclosure. Why Foreclosed Homeowners Receive 1099s for Cancelled Debt First, the basics: if you owe a debt

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What Happens After Foreclosure

What Happens After Foreclosure

Michael David April 13, 2008 0

Foreclosure is the process by which a bank or lender takes possession of collateral used to secure a loan. Put another way, foreclosure happens to a homeowner when he or she doesn’t pay their

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