chere7up (November 30, 1999 at 12:00 am)

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.