Type: Amicus
Date: July 10, 2006
Description: Whether chapter 13 debtor may modify under section 1322(b)(2) an undersecured mortgage on a multi-unit property that includes a unit in which the debtor does not reside.
Result: Reversed. Debtor won. 461 F.3d 406 (3d Cir. 2006)
Scarborough NACBA Amicus 3rd Cir.
EZ Tax Transcripts for Loan Modifications
The IRS has created a new Form 4506T-EZ, Short Form Request for Individual Tax Return Transcript, to order a transcript of a Form 1040 series return. The IRS created this streamlined form to help those taxpayers trying to obtain, modify or refinance a home mortgage. Transcripts may also be mailed to a third party, such as a mortgage institution, if specified on the form. Form 4506T-EZ can be used to to request a tax return transcript for the current and the prior three years that includes most lines of the original tax return.