IRS Tax Code 1031 can be tricky! Watch out if you have refinanced your mortgage. You will pay taxes!
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Friday, June 22, 2007
Be carefule with 1031 Exchange
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A mortgage is a method of using property (real or personal) as security for the payment of a debt. The term mortgage (from Law French, lit. death vow) refers to the legal device used in securing the property, but it is also commonly used to refer to the debt secured by the mortgage, the mortgage loan.
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