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Tax Relief for Taxpayers Who Lose Their Homes Due
to Foreclosure Expires
Beginning in 2013,
debt forgiven in connection with the foreclosure of a principal
residence will once again be considered taxable income (unless you
are in bankruptcy or insolvent).
Mortgage
Insurance Premiums
The special
itemized deduction for mortgage insurance premiums paid on mortgages
taken out after 2006 expires after 2012.
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