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	<title>The Guide to Cancellation of Debt &#187; Taxes &amp; Mortgage Relief</title>
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	<link>http://cancellationofdebt.org</link>
	<description>Your Source For Cancellation of Debt Info</description>
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		<title>Should I file Bankruptcy as a Result of my Short Sale or Foreclosure?</title>
		<link>http://cancellationofdebt.org/should-i-file-bankruptcy-as-a-result-of-my-short-sale-or-foreclosure</link>
		<comments>http://cancellationofdebt.org/should-i-file-bankruptcy-as-a-result-of-my-short-sale-or-foreclosure#comments</comments>
		<pubDate>Sat, 02 Jul 2011 22:56:03 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Bankruptcy & Insolvency]]></category>
		<category><![CDATA[Mortgage Cancellation of Debt]]></category>
		<category><![CDATA[Taxes & Mortgage Relief]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[foreclosure]]></category>
		<category><![CDATA[short sale]]></category>

		<guid isPermaLink="false">http://cancellationofdebt.org/?p=205</guid>
		<description><![CDATA[I often hear that folks who are going through a short sale are told that they should file bankruptcy.  While it is true that any debt that is cancelled in a title 11 bankruptcy is not taxable (subject to attribute reduction), I don&#8217;t think that bankruptcy should be your first choice.  Bankruptcy alone can cost [...]]]></description>
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		<title>Debt Forgiveness &amp; Insolvency</title>
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		<comments>http://cancellationofdebt.org/debt-forgiveness-insolvency#comments</comments>
		<pubDate>Fri, 25 Dec 2009 19:39:26 +0000</pubDate>
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				<category><![CDATA[1099-C]]></category>
		<category><![CDATA[Bankruptcy & Insolvency]]></category>
		<category><![CDATA[Forgiveness of Debt]]></category>
		<category><![CDATA[Taxes & Mortgage Relief]]></category>
		<category><![CDATA[Debt Forgiveness]]></category>
		<category><![CDATA[debt forgiveness income]]></category>
		<category><![CDATA[forgiveness income]]></category>
		<category><![CDATA[mortgage forgiveness debt]]></category>

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		<description><![CDATA[If a homeowner is not able to exclude all debt cancellation based on the Mortgage Forgiveness Debt Relief Act, there may be relief if they can prove they were insolvent. You are insolvent when, and to the extent, your liabilities exceed the fair value of your assets. You must determine your liabilities and the fair [...]]]></description>
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