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The Subprime Mortgage Crunch: Providing Tax Relief for Ex-Homeowners

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Publication Date: September 2007

Publisher(s): Heritage Foundation (Washington, D.C.)

Author(s): JD Foster

Series: WebMemo

Topic: Banking and finance (Credit and loans)
Banking and finance (Taxation and tax policy)

Keywords: Taxes; debt; housing; capital gains

Type: Brief

Coverage: United States


The President's package of initiatives, while well intentioned, is misguided. A better approach would be to correct the tax treatment of cancelled mortgage debt.