I quote right from the IRS website " Update Dec. 11, 2008 — The Mortgage Forgiveness Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence.

Therefore, this child support is taxable income and is considered a common CIVIL debt dischargeable in bankruptcy.

-I am looking at hopefully purchasing my first owner occupied multifamily this year and was looking at using FHA financing but I have to wait until the end of July, because my bankruptcy (had a business go under) will be at the 2 year discharge mark.

Your situation is very specific and getting bad advice could cost you severely.When you speak with your attorney, ONE of the questions you will want to ask is if the 2nd was discharged.

Minimum of 2 years from Chapter 7 or 13 bankruptcy discharge Minimum of 3 years from Preforeclosure, short sale, deed in lieu, foreclosure from discharge date or release date.Down Payment Requirements The borrower is required to make a minimum down payment into the transaction of at least 3.5% of the lesser of the appraised value of the property or the sales price.

I just got discharged about 3 weeks ago and and in the job search process and am super excited about having 100 percent control of my life as a civilian!

The bankruptcy was discharged 2 years ago and I am now eligible for an FHA loan for my primary residence (I have not yet used it though).

I recently was discharged from my chapter 13 bankruptcy and am looking to invest in some property.  

"No sale... shall operate to release, discharge, modify or, change, or affect the original liability of the party of the first part..."

For you to refi or even just pay off the loan, the sellers have to produce/file a Discharge of Lien document saying they are lifting the lien.