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| User Info | BofA Give-Away Has Few Takers Among Homeowners: Mortgages; entered at 2012-07-11 23:14:19 | |||
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Steinbeck Posts: 115 Registered: 2009-03-04 
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Here's a thought. The borrow thinks "Hmm, I've not been paying my mortgage for a couple of years and have a lot more free cash. You want to to reduce my loan by $150K and start making payments again. That 'loan forgiveness' will count as 'income' by the IRS and I'll have to immediately pay $30K+/- in additional taxes this year." If I were in that situation, I'd say "No Thanks" as well; but likely wouldn't use such polite terms :-) 2012-07-11 23:14:19
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