The Truth About the Mortgage Modification Process

Mortgage modification works for a small minority, while the majority of homeowner’s who apply under HAMP end up being disappointed. The larger question is whether it makes sense to keep a house that consumes too much of your disposable income. For many, surrendering the house and discharging the debt in bankruptcy is an option worth considering.

RI Bankruptcy Law: Discharge vs Debt Cancellation

RI Bankruptcy Law: Understanding the tax difference between bankruptcy discharge and debt cancellation. Discharged debt is not taxable, but cancelled debt is.