Hi,
Do we need to pay taxes for Chapter 13 discharge amounts?
I know, For unsecured loans, it is probably 5 to 10% of the total amount.
But for secured loans, what is the percentage for mortgage loans in chapter 13?
This is my case details.
I have two rental properties (Arizona) which went on foreclosure (not sure whether sold or not), out of which on one house i have second mortgage of $95,000.
First house Loan 1 # $150, 000
First house Loan 2 # $95, 000
(First house worth - $85,000)
Second house Loan 1 # $195, 000
(Second house worth - $150,000)
Please let me know, if anybody has idea about the percentage for these loans, if i file for chapter13?
Thank you.

