The economic impact of the global COVID-19 pandemic will likely result in a considerable number of borrower defaults, workouts and debt restructurings. An often overlooked but significant consequence of debt modifications or...more
6/26/2020
/ Borrowers ,
Cancellation of Debt (COD) ,
Coronavirus/COVID-19 ,
Debt Restructuring ,
Fair Market Value ,
Forbearance Agreements ,
Foreclosure ,
Internal Revenue Code (IRC) ,
IRS ,
Lenders ,
Residential Property Owners ,
Settlement Agreements ,
Treasury Regulations
In support of financial institutions and borrowers during the COVID-19 pandemic, the newly enacted Coronavirus Aid, Relief, and Economic Security Act (CARES Act) includes a number of provisions permitting lenders to suspend,...more