Gillman & Gillman to Present Seminar: BOOT CAMP: Foreclosure and Loan Workout Procedures
Gillman & Gillman to Present Seminar: BOOT CAMP: Foreclosure and Loan Workout Procedures

Justin M. Gillman, Esq., of Gillman & Gillman, , will be presenting a seminar entitled "BOOT CAMP: Foreclosure and Loan Workout Procedures" for the National Business Institute (NBI) on Tuesday, December 8, 2015, in Princeton, New Jersey.   The Seminar is...

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Short Sales Benefit Realtors But Homeowners Should Consult Experienced Attorney
Short Sales Benefit Realtors But Homeowners Should Consult Experienced Attorney

Short Sales Benefit Realtors But May Not Benefit Homeowners Who Should Be Fully Informed About Alternatives Such As Chapter 7 Bankruptcy and the Possible Tax Consequences of a Short Sale Nearly every homeowner facing foreclosure receives notices from their mortgage...

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Chapter 7 Personal Bankruptcy Avoids Foreclosure Deficiency Judgments & Short Sale Personal Income Taxes
Chapter 7 Personal Bankruptcy Avoids Foreclosure Deficiency Judgments & Short Sale Personal Income Taxes

Chapter 7 Personal Bankruptcy Q & A: How Does a Chapter 7 Consumer Bankruptcy Effect Mortgage Foreclosure, Deficiency Judgments, Short Sales, Deeds In Lieu of Foreclosure & Personal Income Taxes. Mortgage Foreclosure - A Chapter 7 Bankruptcy Discharge DOES NOT...

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Mortgage Forgiveness Act Exemption Expired on December 31, 2013 And May Have Major Impact on Homeowners Decision to Pursue Bankruptcy in Foreclosure
Mortgage Forgiveness Act Exemption Expired on December 31, 2013 And May Have Major Impact on Homeowners Decision to Pursue Bankruptcy in Foreclosure

Since 2007, homeowners who conducted short sales and other loss mitigation alternatives on their properties were able to exempt any income associated with their mortgage company's write-off of any debt under the federal mortgage forgiveness act.    However, Congress allowed the...

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Beware of Tax Implications from a Short Sale or Loan Modification
Beware of Tax Implications from a Short Sale or Loan Modification

This Article recently appeared in the New York Times. Come tax time, JPMorgan Chase will be able to write off the $1.5 billion in debt relief it must give homeowners to satisfy the terms of a recent settlement. But the...

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Short Sales, Possible Tax Consequences and Bankruptcy
Short Sales, Possible Tax Consequences and Bankruptcy

Given the state of the real estate market and the large mortgage debt that many people find themselves in, many of my clients find themselves upside down on their residences.  One of the questions I get asked most often by...

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