TodWilliams said:. I was unsure about sending in the money for the application fee, which is 1% of the house value. My home was valued at about $200000, so i was looking at a $2000 application fee, and thir total fee for saving my home was $20000 (10% of the appraised value). even if i wanted to, i didnt have the money to send in. However, my family was very supportive and i managed to get the money together from various family members. Now, i was a total nervous wreck from borrowing money and taking a gamble on this company. QUOTE]
I am sorry, I must have misread your previous post.
Debt forgiveness from the lender = 1099 C from IRS = taxed as income. Thought I may pass that along to prepare you.
Maybe one out of three turns out to be a success.