Government refinancing of home loans

One thing about this forum is that your enemies come out and gloat and try to pounce on you when they think you have been one upped ...whether it's true or not. Then they're silent when you're right. It's funny but always true.

Dreamsglore wrote:One thing about this forum is that your enemies come out and gloat and try to pounce on you when they think you have been one upped ...whether it's true or not. Then they're silent when your right. It's funny but always true.

I gave you a plus..I love under dogs...I spent a lot of my life there...good luck Dreams...

Chrissy wrote:4 Re: Government refinancing of home loans on 12/27/2012, 7:55 pm
Dreamsglore


Posts: 3189
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Join date: 2012-06-17

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Slicef18 wrote:
Government refinancing of homes that owe more on the house than it is worth. Or as they say, "being upside down" on the home loan for the house.
Most people are not aware that the difference between the refinanced amount for the home and the amount remaining on the old loan is considered taxable income. Even though one didn't receive any cash. The monies forgiven from the old home loan is what the IRS considers taxable income.


They also consider bankruptcies on credit cards as taxable income

I thought it a good idea to remind all what the whole thing started over. as we can see the legalese of the comment. I realize a re-definition and a subject chnage is wanted by some, but Im having too much fun watching this to allow for a side track.

Thanks for reposting that. It was the original statement and true taken out of context. I think I'll rest my case now.

One thing about this forum is that your enemies come out and gloat

I have never considered you an enemy. I agree with you more than I disagree, but you follow this silly method of not addressing something when you are wrong. It is like you have this deep seated complex that somehow if you are wrong about something, you become somehow less of a person. I have over the years found that those individuals who have intellectual integrity will easily give up a mistake.....because they know that mistake does not define them.

You however attempt to bully some of these folks you are now calling enemies, and use the methods I have shown on this thread which results in them calling you names and exchanging personal attacks. I do not do that. I will shut a fool down who insists on continuing to convey inaccurate information, and I have lived my life for bullies, so I will simply stay on subject. You made a mistake. It was not a huge mistake, but a mistake nonetheless. When I tried to show your mistake, at first you insisted that your understanding was correct, but after you read the IRS regs.....you then began this silly context argument. A simple sentence.....seaoat your were right.....no tax is due on bankrupted credit cards....how hard would that have been.....it would have saved you the embarrassment of this thread.

TEOTWAWKI wrote:

Dreamsglore wrote:One thing about this forum is that your enemies come out and gloat and try to pounce on you when they think you have been one upped ...whether it's true or not. Then they're silent when your right. It's funny but always true.

I gave you a plus..I love under dogs...I spent a lot of my life there...good luck Dreams...

ThanksTeo but I'm well aware Chrissy,PB and Gunz have no interest in who's right. They're just there for the kill. That's what they live for. It's part of their character. LOL! I like being the underdog. It makes me feel special and not a part of mindless sheep.

2seaoat wrote:One thing about this forum is that your enemies come out and gloat

I have never considered you an enemy. I agree with you more than I disagree, but you follow this silly method of not addressing something when you are wrong. It is like you have this deep seated complex that somehow if you are wrong about something, you become somehow less of a person. I have over the years found that those individuals who have intellectual integrity will easily give up a mistake.....because they know that mistake does not define them.

You however attempt to bully some of these folks you are now calling enemies, and use the methods I have shown on this thread which results in them calling you names and exchanging personal attacks. I do not do that. I will shut a fool down who insists on continuing to convey inaccurate information, and I have lived my life for bullies, so I will simply stay on subject. You made a mistake. It was not a huge mistake, but a mistake nonetheless. When I tried to show your mistake, at first you insisted that your understanding was correct, but after you read the IRS regs.....you then began this silly context argument. A simple sentence.....seaoat your were right.....no tax is due on bankrupted credit cards....how hard would that have been.....it would have saved you the embarrassment of this thread.

They are calling me names and you have the nerve to say I am bullying them? They came on this thread and made insults in a conversation you and I were having and you say I bullied them? I don't know what you call enemies but they are not here for friendship. You're warped,Seaoat. I didn't make a mistake and I stand by what I said. I'm not embarrassed at all.. not one iota.

Dreamsglore wrote:

Chrissy wrote:4 Re: Government refinancing of home loans on 12/27/2012, 7:55 pm
Dreamsglore


Posts: 3189
Reputation: -317
Join date: 2012-06-17

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Slicef18 wrote:
Government refinancing of homes that owe more on the house than it is worth. Or as they say, "being upside down" on the home loan for the house.
Most people are not aware that the difference between the refinanced amount for the home and the amount remaining on the old loan is considered taxable income. Even though one didn't receive any cash. The monies forgiven from the old home loan is what the IRS considers taxable income.


They also consider bankruptcies on credit cards as taxable income

I thought it a good idea to remind all what the whole thing started over. as we can see the legalese of the comment. I realize a re-definition and a subject chnage is wanted by some, but Im having too much fun watching this to allow for a side track.

Thanks for reposting that. It was the original statement and true taken out of context. I think I'll rest my case now.

Not really dreams. as debt forgiveness and bankruptcy are different terms and outcomes.

eitherway, it has been fun and enjoyment watching this back n forth

Bankruptcy Discharge of Credit Card Debt

If you file bankruptcy and obtain a discharge from the bankruptcy court, your credit card debt will likely be wiped out entirely. This is not debt forgiveness
http://www.nolo.com/legal-encyclopedia/will-the-creditor-forgive-my-credit-card-debt.html


You lost the argument on a technicality

As a Waco Bankruptcy Lawyer and a Killeen Bankruptcy Lawyer, I am frequently asked if getting a discharge in a bankruptcy case will make a client incur a tax liability. Under the U.S. Tax Code, if a debt is discharged in a bankruptcy case, that debt forgiveness is not taxable income. However, if a creditor forgives a debt outside of bankruptcy, that is taxable income. Debt canceled outside of bankruptcy creates an income tax liability, but debt discharged in a bankruptcy does not create a tax liability.

http://centraltexasbankruptcy.com/a-taxing-matter-bankruptcy-discharge-vs-debt-cancellation/

Now had you said, debt forgivness OUTSIDE of banruptcy, perhas you would have had a leg to stand on. But you didnt you said bankruptcy.

I am a super googler

I rest my case.

You're warped,Seaoat. I didn't make a mistake and I stand by what I said. I'm not embarrassed at all.. not one iota.

Well of course I am warped......only a warped person would be having this much fun conversing with someone who refuses to admit they were wrong. Dreams you do try to intellectually bully folks, and often make fun of their grammer or use of words.....yet this entire thread is about the words you used which were incorrect. I remember some great debates I had with Requiem. He was brilliant. He could actually converse in real time without cut and paste. He was a complete joy to have him correct me, and on those few rare times I corrected him.....he easily gave it up.....because he knew he was brilliant and was just having fun in the sandbox.

Dreams......I knew Requiem.........you are not Requiem. So when you try this intellectual bully routine.....please know the heck what you are talking about because this thread is proof that you are playing in the minor league. You cannot hit a curveball......plain and simple....you will never get to the bigs.

2seaoat wrote:One thing about this forum is that your enemies come out and gloat

I have never considered you an enemy. I agree with you more than I disagree, but you follow this silly method of not addressing something when you are wrong. It is like you have this deep seated complex that somehow if you are wrong about something, you become somehow less of a person. I have over the years found that those individuals who have intellectual integrity will easily give up a mistake.....because they know that mistake does not define them.

You however attempt to bully some of these folks you are now calling enemies, and use the methods I have shown on this thread which results in them calling you names and exchanging personal attacks. I do not do that. I will shut a fool down who insists on continuing to convey inaccurate information, and I have lived my life for bullies, so I will simply stay on subject. You made a mistake. It was not a huge mistake, but a mistake nonetheless. When I tried to show your mistake, at first you insisted that your understanding was correct, but after you read the IRS regs.....you then began this silly context argument. A simple sentence.....seaoat your were right.....no tax is due on bankrupted credit cards....how hard would that have been.....it would have saved you the embarrassment of this thread.

You know. I could say the same thing about you. You won't admit you misinterpreted my post. You are adamant in your mind that is what I was saying. Now you say you don't call names? Excuse me? Hello? Saying someone is a fool and ignorant is not doing that? Oh wow! I think you've made enough false comments for the day.

Saying someone is a fool and ignorant is not doing that? Oh wow! I think you've made enough false comments for the day.


Did I say anything false. You were ignorant of the IRS rules on bankrupted credit cards, and you were foolish to try to change the subject and ultimately claim I took your statement out of context. I think I accurately reflected the way you behaved on this thread.....ignorance is the lack of knowledge.....and foolishness......well just read this thread and your comments.

Now had you said, debt forgivness OUTSIDE of banruptcy, perhas you would have had a leg to stand on. But you didnt you said bankruptcy.

I am a super googler Cool


I wished you would have helped her out earlier....you know that is what friends are for......you left her dangling with the warped Seaoat......you sure know how to be nasty sometimes.......really you should have offered her the help early on in this thread.....none of these hurt feelings would have been necessary.

Dreamsglore wrote:

2seaoat wrote:One thing about this forum is that your enemies come out and gloat

I have never considered you an enemy. I agree with you more than I disagree, but you follow this silly method of not addressing something when you are wrong. It is like you have this deep seated complex that somehow if you are wrong about something, you become somehow less of a person. I have over the years found that those individuals who have intellectual integrity will easily give up a mistake.....because they know that mistake does not define them.

You however attempt to bully some of these folks you are now calling enemies, and use the methods I have shown on this thread which results in them calling you names and exchanging personal attacks. I do not do that. I will shut a fool down who insists on continuing to convey inaccurate information, and I have lived my life for bullies, so I will simply stay on subject. You made a mistake. It was not a huge mistake, but a mistake nonetheless. When I tried to show your mistake, at first you insisted that your understanding was correct, but after you read the IRS regs.....you then began this silly context argument. A simple sentence.....seaoat your were right.....no tax is due on bankrupted credit cards....how hard would that have been.....it would have saved you the embarrassment of this thread.

You know. I could say the same thing about you. You won't admit you misinterpreted my post. You are adamant in your mind that is what I was saying. Now you say you don't call names? Excuse me? Hello? Saying someone is a fool and ignorant is not doing that? Oh wow! I think you've made enough false comments for the day.

The way to work with a bully is to take the ball and go home. First time, every time. When there's no ball, there's no game. Bullies hate that. So they'll either behave so they can play with you or they'll go bully someone else.

The way to work with a bully is to take the ball and go home. First time, every time. When there's no ball, there's no game. Bullies hate that. So they'll either behave so they can play with you or they'll go bully someone else.


wisdom......just go away Dreams.....I am the bully today.

2seaoat wrote:You're warped,Seaoat. I didn't make a mistake and I stand by what I said. I'm not embarrassed at all.. not one iota.

Well of course I am warped......only a warped person would be having this much fun conversing with someone who refuses to admit they were wrong. Dreams you do try to intellectually bully folks, and often make fun of their grammer or use of words.....yet this entire thread is about the words you used which were incorrect. I remember some great debates I had with Requiem. He was brilliant. He could actually converse in real time without cut and paste. He was a complete joy to have him correct me, and on those few rare times I corrected him.....he easily gave it up.....because he knew he was brilliant and was just having fun in the sandbox.

Dreams......I knew Requiem.........you are not Requiem. So when you try this intellectual bully routine.....please know the heck what you are talking about because this thread is proof that you are playing in the minor league. You cannot hit a curveball......plain and simple....you will never get to the bigs.

I've not professed to be Requiem. I have no clue why you would bring him up. You sound like now you're trying to make your point by doing the same thing you're accusing me of. Isn't that interesting? Do you think you are going to beat me down by insults? By trying to tell me what I said? Not hardly,Seaoat. You have greatly misjudged me. I got your number and your opinion does not move me. When you get to the "bigs", let me know cause you ain't there either.

Somedays you eat the bear somedays you are the statue....

2seaoat wrote:Now had you said, debt forgivness OUTSIDE of banruptcy, perhas you would have had a leg to stand on. But you didnt you said bankruptcy.

I am a super googler Cool


I wished you would have helped her out earlier....you know that is what friends are for......you left her dangling with the warped Seaoat......you sure know how to be nasty sometimes.......really you should have offered her the help early on in this thread.....none of these hurt feelings would have been necessary.

Well, I didnt help her out. I proved your point actually which wasnt something I was all too fast to do as you are a very good debater and me jumping in too soon would have just side tracked the entire discussion where personal attacks would have become the subject.

I understand if you are resistant to my help. I was resistant to give it

Chrissy wrote:

Dreamsglore wrote:

Chrissy wrote:4 Re: Government refinancing of home loans on 12/27/2012, 7:55 pm
Dreamsglore


Posts: 3189
Reputation: -317
Join date: 2012-06-17

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Slicef18 wrote:
Government refinancing of homes that owe more on the house than it is worth. Or as they say, "being upside down" on the home loan for the house.
Most people are not aware that the difference between the refinanced amount for the home and the amount remaining on the old loan is considered taxable income. Even though one didn't receive any cash. The monies forgiven from the old home loan is what the IRS considers taxable income.


They also consider bankruptcies on credit cards as taxable income

I thought it a good idea to remind all what the whole thing started over. as we can see the legalese of the comment. I realize a re-definition and a subject chnage is wanted by some, but Im having too much fun watching this to allow for a side track.

Thanks for reposting that. It was the original statement and true taken out of context. I think I'll rest my case now.

Not really dreams. as debt forgiveness and bankruptcy are different terms and outcomes.

eitherway, it has been fun and enjoyment watching this back n forth

Bankruptcy Discharge of Credit Card Debt

If you file bankruptcy and obtain a discharge from the bankruptcy court, your credit card debt will likely be wiped out entirely. This is not debt forgiveness
http://www.nolo.com/legal-encyclopedia/will-the-creditor-forgive-my-credit-card-debt.html


You lost the argument on a technicality

As a Waco Bankruptcy Lawyer and a Killeen Bankruptcy Lawyer, I am frequently asked if getting a discharge in a bankruptcy case will make a client incur a tax liability. Under the U.S. Tax Code, if a debt is discharged in a bankruptcy case, that debt forgiveness is not taxable income. However, if a creditor forgives a debt outside of bankruptcy, that is taxable income. Debt canceled outside of bankruptcy creates an income tax liability, but debt discharged in a bankruptcy does not create a tax liability.

http://centraltexasbankruptcy.com/a-taxing-matter-bankruptcy-discharge-vs-debt-cancellation/

Now had you said, debt forgivness OUTSIDE of banruptcy, perhas you would have had a leg to stand on. But you didnt you said bankruptcy.

I am a super googler

I rest my case.

You're not a good thread reader,though. I clarified my statement after citing the debt forgiveness. It was clear what was meant and the use of the term. I will still use the term bankrupt on credit cards no matter what Seaoat says because that is the descriptive term.

I understand if you are resistant to my help. I was resistant to give it Razz



Well when you are in the minors....you always look for that tip which helps you hit the curve ball. At least you understand the concept. It took her two pages of the thread before she found out she did not understand.....then it was this wonderful creative context argument. See any of us can play at the major league level with a cut and paste........maybe I was wrong about Dreams......she cut and pasted really well on this thread.....she just compounded her confusion.....but heck.....what fun would there have been if you had jumped in right away and helped her........she would have called you a name....you would have called her a name........and we would still be confused if a person who bankrupted credit cards owes any tax.....now Dreams says she understands.......and she may have resisted your help, but I am certain you have contributed to her enlightened state.

2seaoat wrote:I understand if you are resistant to my help. I was resistant to give it Razz



Well when you are in the minors....you always look for that tip which helps you hit the curve ball. At least you understand the concept. It took her two pages of the thread before she found out she did not understand.....then it was this wonderful creative context argument. See any of us can play at the major league level with a cut and paste........maybe I was wrong about Dreams......she cut and pasted really well on this thread.....she just compounded her confusion.....but heck.....what fun would there have been if you had jumped in right away and helped her........she would have called you a name....you would have called her a name........and we would still be confused if a person who bankrupted credit cards owes any tax.....now Dreams says she understands.......and she may have resisted your help, but I am certain you have contributed to her enlightened state.

You are now cracking me up.

I can assure you I did not contribute to her enlightment and that she completly overlooked the attorneys reponse that I posted to the question involved.

I get the sense of a person who just ate the chocolate crust off a nice cool icecream while only leaving the vanilla on the stick. Very poor taste of me to have done. I appologize.

2seaoat wrote:I understand if you are resistant to my help. I was resistant to give it Razz



Well when you are in the minors....you always look for that tip which helps you hit the curve ball. At least you understand the concept. It took her two pages of the thread before she found out she did not understand.....then it was this wonderful creative context argument. See any of us can play at the major league level with a cut and paste........maybe I was wrong about Dreams......she cut and pasted really well on this thread.....she just compounded her confusion.....but heck.....what fun would there have been if you had jumped in right away and helped her........she would have called you a name....you would have called her a name........and we would still be confused if a person who bankrupted credit cards owes any tax.....now Dreams says she understands.......and she may have resisted your help, but I am certain you have contributed to her enlightened state.

Now I said I understand? How much more crap are you going to make up Seaoat? First, you said I misposted on the Conn. mental health laws,then the child abuse laws and now I said " I understand"? I need to evaluate how competent you really are. You're not doing too good today.

Chrissy wrote:

2seaoat wrote:I understand if you are resistant to my help. I was resistant to give it Razz



Well when you are in the minors....you always look for that tip which helps you hit the curve ball. At least you understand the concept. It took her two pages of the thread before she found out she did not understand.....then it was this wonderful creative context argument. See any of us can play at the major league level with a cut and paste........maybe I was wrong about Dreams......she cut and pasted really well on this thread.....she just compounded her confusion.....but heck.....what fun would there have been if you had jumped in right away and helped her........she would have called you a name....you would have called her a name........and we would still be confused if a person who bankrupted credit cards owes any tax.....now Dreams says she understands.......and she may have resisted your help, but I am certain you have contributed to her enlightened state.

You are now cracking me up.

I can assure you I did not contribute to her enlightment and that she completly overlooked the attorneys reponse that I posted to the question involved.

I get the sense of a person who just ate the chocolate crust off a nice cool icecream while only leaving the vanilla on the stick. Very poor taste of me to have done. I appologize.

No, you didn't contribute anything that was not already known. That info. was posted a few pages back. You're a day late and a dollar short.LOL!

Dreamsglore wrote:
Now I said I understand? How much more crap are you going to make up Seaoat? First, you said I misposted on the Conn. mental health laws,then the child abuse laws and now I said " I understand"? I need to evaluate how competent you really are. You're not doing too good today.

Perhaps you should evaluate yourself while you're at it.

*****CHUCKLE*****

https://www.youtube.com/watch?v=3Ljy6PTbX9I

Dreamsglore wrote:

Chrissy wrote:

Dreamsglore wrote:

Chrissy wrote:4 Re: Government refinancing of home loans on 12/27/2012, 7:55 pm
Dreamsglore


Posts: 3189
Reputation: -317
Join date: 2012-06-17

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Slicef18 wrote:
Government refinancing of homes that owe more on the house than it is worth. Or as they say, "being upside down" on the home loan for the house.
Most people are not aware that the difference between the refinanced amount for the home and the amount remaining on the old loan is considered taxable income. Even though one didn't receive any cash. The monies forgiven from the old home loan is what the IRS considers taxable income.


They also consider bankruptcies on credit cards as taxable income

I thought it a good idea to remind all what the whole thing started over. as we can see the legalese of the comment. I realize a re-definition and a subject chnage is wanted by some, but Im having too much fun watching this to allow for a side track.

Thanks for reposting that. It was the original statement and true taken out of context. I think I'll rest my case now.

Not really dreams. as debt forgiveness and bankruptcy are different terms and outcomes.

eitherway, it has been fun and enjoyment watching this back n forth

Bankruptcy Discharge of Credit Card Debt

If you file bankruptcy and obtain a discharge from the bankruptcy court, your credit card debt will likely be wiped out entirely. This is not debt forgiveness
http://www.nolo.com/legal-encyclopedia/will-the-creditor-forgive-my-credit-card-debt.html


You lost the argument on a technicality

As a Waco Bankruptcy Lawyer and a Killeen Bankruptcy Lawyer, I am frequently asked if getting a discharge in a bankruptcy case will make a client incur a tax liability. Under the U.S. Tax Code, if a debt is discharged in a bankruptcy case, that debt forgiveness is not taxable income. However, if a creditor forgives a debt outside of bankruptcy, that is taxable income. Debt canceled outside of bankruptcy creates an income tax liability, but debt discharged in a bankruptcy does not create a tax liability.

http://centraltexasbankruptcy.com/a-taxing-matter-bankruptcy-discharge-vs-debt-cancellation/

Now had you said, debt forgivness OUTSIDE of banruptcy, perhas you would have had a leg to stand on. But you didnt you said bankruptcy.

I am a super googler

I rest my case.

You're not a good thread reader,though. I clarified my statement after citing the debt forgiveness. It was clear what was meant and the use of the term. I will still use the term bankrupt on credit cards no matter what Seaoat says because that is the descriptive term.

Im a very good thread reader. I put that last nail in your post coffin didnt I

See, in seaoat terms, that was a home run for me. But i ate his yummy chocolate crust from the desert he worked so hard for and that wasnt really fair of me. But i couldnt help it. It was just too yummy.

There be better days when you can pretend to be a lawyer. Dont worry. Maybe next week you can play a movie producer online or maybe you were a NASA astronaut and will explain space exploration for us?

Either way, The whole thing has just been a ton of fun.

You're not doing too good today.


Actually, I just watched the Bears beat Detroit......have enjoyed reading your responses, and the wife said something about getting together with friends this evening......the only thing is......I am going to be rude to our guests.....because I have been having too much fun on this thread......tell me more about liens and reaffirmations....please......pretty please. I will sneak away and keep posting......I promise, but I think Chrissy has given you the link which you can understand.......Bankrupted credit card debt does not have any tax due and owing......you going to give me a big smile.......and golly gee Seaoat.....I guess you were right.......come on now.....I know you have it in you.