What was the process like? I have a friend that is about out of options (she relocated for her job and can't sell her house). It's been on the market for a long time, she just can't keep up with two mortgages anymore. A Realtor suggested this as an option.
Answer by Erica_Smerica at 12:30 PM on Dec. 2, 2010
Answer by Gnomeofmyheart at 11:23 AM on Dec. 2, 2010
Answer by CoolChick1959 at 11:40 AM on Dec. 2, 2010
Answer by Erica_Smerica at 12:31 PM on Dec. 2, 2010
Answer by HotMama330 at 12:34 PM on Dec. 2, 2010
Answer by dancinintherain at 11:21 AM on Dec. 2, 2010
Short sales are hard, for many mortgage companies will not accept the offers. If offers are accepted, you have to claim the loss as YOUR INCOME come tax time. Say you owe 170K and short sale for 130K. You have to claim 40K as additional income you really didn't earn, come tax time.
Answer by KairisMama at 12:07 PM on Dec. 2, 2010
Answer by KairisMama at 12:16 PM on Dec. 2, 2010