Saturday, September 8, 2012

Mortgage debt relief may bring new pain: a tax bill. Susan Salehi Bankruptcy Ventura Oxnard Camarillo Santa Barbara Woodland Hills Los Angeles CA

http://bkhelpnow.com/wordpress/2012/09/07/mortgage-debt-relief-may-bring-new-pain-a-tax-bill-susan-salehi-bankruptcy-ventura-oxnard-

An unoccupied, foreclosed home in East Los Angeles in July. (Mel Melcon / Los Angeles Times / September 7, 2012)
WASHINGTON — Struggling homeowners who obtain reductions in their mortgage debt face a new obstacle starting next year — a bill for taxes on that aid.A special exemption of as much as $2 million per household in principal reduction and other aid from banks, in place since 2007, is set to expire at year’s end.It is one of a number of similarly expiring tax provisions — most notably the President George W. Bush-era tax cuts — and the large automatic government spending reductions looming at the same time that are referred to as the fiscal cliff.

The Law Office of Susan J. Salehi has helped 1000’s of people like yourself with Chapter 7 and 13 bankruptcies since 1992, both in the Santa Barbara/Ventura and Kern County areas. We offer a free consultation, reasonable rates and payment plans. All of your options will be explained during your free consultation with the attorney at the Law Offices of Susan J. Salehi. We ask that you bring six months’ proof of income (paystubs/rent receipts/profit and loss statement if self-employed), the last two years’ tax return, a credit report – free ones are available at www.annualcreditreport.com, any foreclosure notices, lawsuits, and correspondence from the IRS or FTB if you owe pastdue taxes.
Call today for a free, no-obligation consultation, contact us through our website at salehilaw@aol.com.
Start at only $999 Attorney Fees. Restrictions Apply. Stop Foreclosures with a Chapter 13. Operators 24/7. (805) 654-1467, (818) 880-8305, (661) 631-0252, (805) 202-4688.

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