“Tax Consequences of a Short Sale
of Your Principal Residence”
To get my complete article
with all the details…
What is a “short sale”?
A “short sale” is a way for financially struggling homeowners to avoid foreclosure.
When does a short sale make sense?
It can be a good move when a homeowner’s home is worth less than the amount of their loan.
Here’s where the lender comes in…
In a short sale, the lender allows the homeowner to sell the home in a regular sale through a real estate agent for less than the amount of the mortgage.
Then the lender accepts the sale proceeds, releases the mortgage lien on the property, and typically writes off the remainder of the loan as an uncollectible debt.
So what are the consequences of a short sale?
Here are some extremely important consequences that I’ll explain in detail in my new article.
- Potential huge tax liability in a short sale
- Non-recourse loans vs. recourse loan
- Qualified principal residence indebtedness exclusion
- The insolvency exclusion
- I’ll provide examples that make everything crystal clear
And much more.
Want to learn more about this vitally important subject? It’s easy. Just…
CLICK HERE and read my completely new article titled:
“Tax Consequences of a Short Sale
of Your Principal Residence”