H.R. 3648 Question

[gleam]

What is the name of your state (only U.S. law)? FL

Would a cash settlement to a mortgage company (so my family can keep the property) have the tax implications covered in H.R. 3648? In other words, would I be forgiven my debt from the 1099c form by settling our debt with the mortgage company or is that law only for short sale and deed in lieu of foreclosure?

Sorry for the double post (posted in the mortgage forum as well.)

 

[davew128]

How about citing the statute number you're inquiring about rather than a legislative bill number. No tax professional or journal I've ever seen references bill numbers.