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No Tax Breaks For Many Who Lose Home To Foreclosure

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(Sacramento, CA)
Monday, March 21, 2011

It turns out, just because a lender wrote-off part of your mortgage debt, doesn't automatically mean you qualify for a tax break.

Patrick Rogan has been preparing people's taxes for 30-years. He's a Certified Public Accountant with his own practice in Elk Grove. He's also a full-time accounting instructor at Cosumnes River College…and past-president of the Sacramento Chapter of the California Society of CPAs.

Rogan says he's seen an increase in the number of clients who've lost their homes because of a foreclosure. 

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