What if I cant pay my second mortgage. I owe what my house is worth on my first mortgage. I filed bankruptcy .?

Sunday, 22. August 2010

I filed bankruptcy last June . Can they still make me pay on that second mortgage?


Interesting Blogs

Posted in Second Mortgage by admin

2 Responses to “What if I cant pay my second mortgage. I owe what my house is worth on my first mortgage. I filed bankruptcy .?”

  1. August 22nd, 2010 at 2:37 pm

    Doctor Deth Says:

    did you list both mortgages in the bankruptcy filing?

  2. August 22nd, 2010 at 2:37 pm

    v b Says:

    Probably not. However, see IRS publication 4681. They will send you a 1099-C for the cancelled debt. You put this on form 982 and if you ever sell any remaining asset at a gain, you will owe income tax.

Leave a Reply

CommentLuv Enabled

This site uses KeywordLuv. Enter YourName@YourKeywords in the Name field to take advantage.

 
Powered by Yahoo! Answers