Janice L. Cardiff, f.k.a. Janice Dunn, Petitioner, and Stephen Dunn, Intervenor - Page 7

                                        - 6 -                                         
          benefit of the “no reason to know” factor under Rev. Proc. 2000-            
          15, supra.                                                                  
               Petitioner submitted an income and expense declaration to              
          respondent, which showed monthly expenses exceeding her monthly             
          income by $1,605.  At trial, intervenor mentioned a house                   
          petitioner owns.  As a result of the divorce, the house owned by            
          petitioner and intervenor was foreclosed.  Subsequently, family             
          friends gave petitioner a house, in which she lives with her                
          children.  Petitioner has a tenant and uses the rent to make                
          mortgage payments.  The rent is less than the interest due and no           
          payments are made on principal.  Petitioner explained this                  
          resulted in negative amortization and the principal increases               
          each month.  Respondent concluded that petitioner would suffer              
          undue economic hardship.                                                    
               Because of the manner in which intervenor controlled the               
          finances, petitioner did not benefit beyond normal support from             
          the unpaid liability.  Respondent gave petitioner the benefit of            
          this factor.                                                                
               Based on our review of the record, we find that respondent             
          did not abuse his discretion in concluding that petitioner was              












Page:  Previous  1  2  3  4  5  6  7  8  Next

Last modified: May 25, 2011