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April 2011 » The Tax Consequences of Buying...
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Mary Bader, JD, LLM, CPA, and Steve Schroeder, MBA, CPA
The market for distressed loans has increased significantly since the real estate slump and resulting financial crisis that began in 2007. An April 25, 2009 New York Times article by John Collins Rudolf, “Auctions for Troubled Property Loans Jump to the Web,” stated that some small investors view distressed loans as the next opportunity in the real estate market. Rudolf noted that new auction websites have sprung up to sell troubled residential and commercial mortgage notes to investors. He also quoted a bank analyst who predicted that, in the next three to four years, transaction volume in distressed loans would increase 20 times over the volume of 2007 and 2008. Tax professionals need to be aware of the tax ramifications for those investing in distressed loans.
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