--- title: "Mortgage Debt Forgiveness Fends Off “Fiscal Cliff”" url: https://afdcenter.com/ description: "AFDCenter.com, the American Foreclosure Defense Center, publishes home loan modification, HAMP, mortgage settlement and foreclosure defense pages alongside dated entries." published: 2013-01-04 updated: 2012-06-15 --- # Mortgage Debt Forgiveness Fends Off “Fiscal Cliff” Published 2013-01-04 · Updated 2012-06-15 Featured entry January 4, 2013·[Uncategorized](https://afdcenter.com/category/uncategorized/) The negotiation by Congress to avoid the “fiscal cliff” didn’t just maintain some taxation rambles away for middle-income America. The 2012 American Taxpayer Relief Act continuouslies exempt from tax mortgage debt that is forgiven when homeowners and their home loan loan providers negotiate a short sale or loan modification– including any sort of principal decrease– on major property. 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Making use of either of these, investigate whether a business has excellent qualifications and accreditation. Get in touch… [Continue reading “How To Identity A Reputable Home Loan Modification Company”](https://afdcenter.com/how-to-identity-a-reputable-home-loan-modification-company/) Dec 28 2012 ## [6 Tips To Avoiding Loan Modification Scams](https://afdcenter.com/6-tips-to-avoiding-loan-modification-scams/) December 28, 2012·[Uncategorized](https://afdcenter.com/category/uncategorized/) The interpretation of a loan modification appears simple enough. It’s when a creditor adjustments terms to an existing loan to suit a homeowner’s lack of ability to fulfill a monthly housing liability. Listed here are 6 important items that Soble suggests… [Continue reading “6 Tips To Avoiding Loan Modification Scams”](https://afdcenter.com/6-tips-to-avoiding-loan-modification-scams/) Dec 21 2012 ## [Struggles for Loan Modifications Persist Even With Falling Number of Foreclosures](https://afdcenter.com/struggles-for-loan-modifications-persist-even-with-falling-number-of-foreclosures/) December 21, 2012·[Uncategorized](https://afdcenter.com/category/uncategorized/) After escaping from North Korea to South Korea in 1957, he moved to its United States, knew to speak English and went to university. [Continue reading “Struggles for Loan Modifications Persist Even With Falling Number of Foreclosures”](https://afdcenter.com/struggles-for-loan-modifications-persist-even-with-falling-number-of-foreclosures/) Dec 17 2012 ## [Foreclosure Prevention Events Like NACA’s Draw The Masses, Housing Market Still In Trouble](https://afdcenter.com/naca-events-foreclosure-prevention-help/) December 17, 2012·[Uncategorized](https://afdcenter.com/category/uncategorized/) When the non-profit group Neighborhood Assistance Corporation of America held its initial foreclosure-prevention occasion in 2008, 8,000 people were waiting in line at 4 a.m. to get within on the final day, pointed out chief executive Bruce Marks. [Continue reading “Foreclosure Prevention Events Like NACA’s Draw The Masses, Housing Market Still In Trouble”](https://afdcenter.com/naca-events-foreclosure-prevention-help/) Dec 16 2012 ## [Homeowners Turning To Short Sales To Prevent Foreclosure](https://afdcenter.com/homeowners-turning-to-short-sales-to-prevent-foreclosure/) December 16, 2012·[Uncategorized](https://afdcenter.com/category/uncategorized/) Lenders and fiscally straining home owners continuously count on short sales as a way to prevent foreclosure, according to a record released today by a nationwide online marketer of foreclosure residential properties. [Continue reading “Homeowners Turning To Short Sales To Prevent Foreclosure”](https://afdcenter.com/homeowners-turning-to-short-sales-to-prevent-foreclosure/) Dec 13 2012 ## [14k Completed Loan Modification in October by Fannie Mae](https://afdcenter.com/14k-completed-loan-modification-in-october-by-fannie-mae/) December 13, 2012·[Uncategorized](https://afdcenter.com/category/uncategorized/) Fannie Mae’s loan modification efforts leftovered tough in October as the variety of adjustments under the federal government’s Home Affordable Modification Program (HAMP) fell just a little from the previous month according to its Monthly Recap for October… [Continue reading “14k Completed Loan Modification in October by Fannie Mae”](https://afdcenter.com/14k-completed-loan-modification-in-october-by-fannie-mae/) Dec 13 2012 ## [Rodney Barreto Defends U.S. Century Bank Loan Modification Targeted in Lawsuit](https://afdcenter.com/barreto-defends-us-century-bank-loan-modification/) December 13, 2012·[Uncategorized](https://afdcenter.com/category/uncategorized/) Former U.S. Century Bank board member Rodney Barreto claims his $ 17.5 million group of loans from the bank are the ones slammed in a claim by the financial institution’s previous main financing policeman, yet Barreto stated he notted doing anything poor… [Continue reading “Rodney Barreto Defends U.S. Century Bank Loan Modification Targeted in Lawsuit”](https://afdcenter.com/barreto-defends-us-century-bank-loan-modification/) Dec 13 2012 ## [Lawsuit Claims Wells Fargo Not Performing Loan Modifications As Required](https://afdcenter.com/wells-fargo-not-performing-loan-modifications-lawsuit/) December 13, 2012·[Uncategorized](https://afdcenter.com/category/uncategorized/) Accusing Wells Fargo & Co. of breaking a sweeping mortgage modification deal, an attorney for stressed home owners is trying to begin over a situation including high-risk “pick-a-pay” financings composed during the real estate bubble. [Continue reading “Lawsuit Claims Wells Fargo Not Performing Loan Modifications As Required”](https://afdcenter.com/wells-fargo-not-performing-loan-modifications-lawsuit/) Dec 12 2012 ## [A Loan Modification Agreement Deemed Unenforceable](https://afdcenter.com/a-loan-modification-agreement-deemed-unenforceable/) December 12, 2012·[Uncategorized](https://afdcenter.com/category/uncategorized/) In Vargas v. Deutsche Bank Nat. Depend on Co., 3D11-554 (Fla. 3d DCA, Nov. 28, 2012), Rogelio Vargas (” Defendant”) enticed an order authorizing a basic magistrate’s report and recommendations which denied his “Movement to Enforce Financing Adjustment… [Continue reading “A Loan Modification Agreement Deemed Unenforceable”](https://afdcenter.com/a-loan-modification-agreement-deemed-unenforceable/) Jun 30 2012 ## [Do You Have To Pay Tax On Forgiven Mortgage Debt?](https://afdcenter.com/do-you-have-to-pay-tax-on-forgiven-mortgage-debt/) June 30, 2012·[Uncategorized](https://afdcenter.com/category/uncategorized/) If a house is sold either through a foreclosure auction or short sale and the amount that is fetched from the sale is less than the amount the borrower owes to the lender, what happens to the remaining balance? This largely depends on the amount, but if… [Continue reading “Do You Have To Pay Tax On Forgiven Mortgage Debt?”](https://afdcenter.com/do-you-have-to-pay-tax-on-forgiven-mortgage-debt/) Jun 26 2012 ## [Foreclosure Rate Accelerates In First Quarter Of 2012](https://afdcenter.com/foreclosure-rate-accelerates-in-first-quarter-of-2012/) June 26, 2012·[Uncategorized](https://afdcenter.com/category/uncategorized/) Many struggling homeowners took heart from the fact that foreclosure rates sunk to a four year low at the end of 2011, but unfortunately that trend has not continued in the first quarter of 2012. That’s right, the foreclosure express, which has been rampant… [Continue reading “Foreclosure Rate Accelerates In First Quarter Of 2012”](https://afdcenter.com/foreclosure-rate-accelerates-in-first-quarter-of-2012/) Jun 26 2012 ## [The Foreclosure Story of May 2012](https://afdcenter.com/the-foreclosure-story-of-may-2012/) June 26, 2012·[Uncategorized](https://afdcenter.com/category/uncategorized/) Earlier this year some of the biggest players in the US mortgage game agreed on a $25 billion settlement package with the government, which ended investigations into incorrect foreclosure practices . This was finally pushed through in April and Mays… [Continue reading “The Foreclosure Story of May 2012”](https://afdcenter.com/the-foreclosure-story-of-may-2012/) Jun 19 2012 ## [Assistance Available For The Unemployed](https://afdcenter.com/assistance-available-for-the-unemployed/) June 19, 2012·[Uncategorized](https://afdcenter.com/category/uncategorized/) It’s a well-known fact that the loss of employment is one of the major reasons a homeowner loses their home to a foreclosure . That makes sense really, as if you are no longer bringing home a paycheck, how can you hope to make monthly mortgage repayments. The… [Continue reading “Assistance Available For The Unemployed”](https://afdcenter.com/assistance-available-for-the-unemployed/) Jun 19 2012 ## [How To Improve Your Credit Rating After Foreclosure](https://afdcenter.com/how-to-improve-your-credit-rating-after-foreclosure/) June 19, 2012·[Uncategorized](https://afdcenter.com/category/uncategorized/) When going through a foreclosure , losing your home is not the only thing you need to think about. In fact, the affect it has on your credit score is perhaps more significant as it harms your chances of getting credit (including another mortgage) in the… [Continue reading “How To Improve Your Credit Rating After Foreclosure”](https://afdcenter.com/how-to-improve-your-credit-rating-after-foreclosure/) Jun 15 2012 ## [Foreclosure And Second Mortgages](https://afdcenter.com/foreclosure-and-second-mortgages/) June 15, 2012·[Uncategorized](https://afdcenter.com/category/uncategorized/) If you’re a homeowner who needed some extra money, you may have taken a second mortgage on your home . Lenders are usually willing to grant a second mortgage to homeowners who have sufficient equity in their properties (as the loan will be secured against… [Continue reading “Foreclosure And Second Mortgages”](https://afdcenter.com/foreclosure-and-second-mortgages/) [All entries by month](https://afdcenter.com/archives/)