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House legislates to Help Financially Strapped Homeowners
alaaron | October 10, 2007 at 05:58 amby
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The House has finally approved legislation to help financially strapped homeowners who are facing foreclosure or bankruptcy. Those homeowners who have a mortgage debt as part of a foreclosure would be given a tax break by the bill, passed 386 to 27, or a reworking of a loan will be given to them. The value of that pardon, which as it stands now is taxable as income, would be exempt.