chere7up (December 31, 1969 at 5:59 pm)

I dont understand..Is it counted as a gain like income? but what if the individual lost the property? what liquidity is there to tax on? I know that debt for a bank is counted as an asset, but they have the potintial to collect on the debt. Someone who lost their home in forclosure dosent.I pray this debt dosent get sold, its a bloody debt, it killed alot of homeowners MY NEIGHBOR for one.