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What is Mortgage Debt Forgiveness?

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What is Mortgage Debt Forgiveness?

In today’s current economic climate with many homeowners losing their home to foreclosure, short sale or simply “walking away” they are finding that they are receiving an income tax form in the mail from their former lender for cancellation of indebtedness. The topic of today’s show is “What is mortgage debt forgiveness and how does this effect my income tax?

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