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Permalink Reply by Keri Sweetland on July 10, 2012 at 6:25am

This is a question best answered by a CPA but the short answer is possibly...but they want to ask about "insolvency" See attached: http://www.irs.gov/individuals/article/0,,id=179414,00.html/

 

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Permalink Reply by Paddy Deighan, Esq on July 15, 2012 at 7:16pm

the MDFRA does not apply to an investment property but there is other relief for an investor....there is relief from the tax ramifications and the credit issues....but many situations are different but there is almost certainly some relief for your client

Paddy Deighan Esq

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Permalink Reply by Beverly Cibulsky on July 10, 2012 at 2:57pm

Harry,

You summed it up... the key work "principal" ! However Keri is correct, there can be "relief" for an investor, They need to consult their CPA!

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