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Buying a House
Buying a home on a contract can be a way for persons who are low-income or who have poor credit to become homeowners. However, there are certain risks to know about to avoid surprises after the contract is signed.
I Lost My House and Now I Owe Taxes?
If sale of a home in a foreclosure action does not cover the amount owed to the lender, part of a loan may not have to be paid back. The IRS may consider the amount of debt "forgiven" as income and tax it.