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Lawyer sanctioned for challenging mortgages without legal basis

A Minneapolis federal court recently sanctioned a Minneapolis lawyer $50,000 for trying to invalidate mortgages without a legal basis under Minnesota. While some courts in other states have been quick to nullify mortgages when the foreclosing…
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1099-C after bankruptcy

It seems every February, I get two or three calls from former clients, whose houses have gone into foreclosure, and they received a 1099-C from their mortgage company. The IRS does consider canceled or forgiven debt to be a form of income. However,…

I am facing foreclosure. What should I do?

When a person is facing foreclosure, most of the time they have already tried to modify their loan, and were turned down. But if you have not done that, you should try -- I can virtually assure you that it will be a long and cumbersome and frustrating…

What's better - short sale or foreclosure?

A realtor will definitely tell you a short sale is better. But keep in mind that a realtor makes money by getting clients and selling houses. While there is nothing wrong with that, and I have nothing against realtors, realtors are trained to…