Capone & Keefe

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Beware of Tax Implications from a Short Sale or Loan Modification

This Article recently appeared in the New York Times.  Come tax time, JPMorgan Chase will be able to write off the $1.5 billion in debt relief it must give homeowners to satisfy the terms of a recent settlement. But the homeowners who receive the help will have to treat it as taxable income, resulting in […]

Do You qualify for a Loan Modification Under HAMP

Everyone it seems is attempting to get a loan modification these days. Anyone that has attempted to modify their mortgage knows that the process can be extremely frustrating. One way to make it somewhat less frustrating is to make sure that you qualify under the HAMP guidelines before you bother applying or retaining an attorney to apply […]

Short Sales, Possible Tax Consequences and Bankruptcy

Given the state of the real estate market and the large mortgage debt that many people find themselves in, many of my clients find themselves upside down on their residences.  One of the questions I get asked most often by my clients is whether or not they should move forward with a short sale on […]