Posts Tagged → foreclosure
Are taxes owed on a “quick sale” to avoid foreclosure?
Question by mischief418: Are taxes owed on a “quick sale” to avoid foreclosure?
We avoided foreclosure on our house a few months ago by doing a “quick sale” I believe…is this the same as a “short sale”? And I am wondering now that tax season is here…am I going to be responsible for the taxes on the sale of the house? I didn’t make a cent off of the sale but I’m just not sure how this all works. I know that the house was sold for less than what was owed on the mortgage but I do not owe the difference because the lender accepted the terms and I have a statement from the mortgage company confirming all of this however the letter does not mention taxes. Anyone know about this stuff??
Best answer:
Answer by AB
You won’t have to this year. There was a new tax law passed that excludes foreclosure income from taxes for last year.
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what is the technical name of that rental arrangement where you live in a for sale house (foreclosure or?
whatever) so that the home looks “lived in” so it theoretically sells faster (lived in..as in nice furniture etc)… its like a new renting trend..what is it called?
Foreclosure sales slow, but remain very high
Foreclosure sales slow, but remain very high
Sales of homes in some stage of foreclosure declined in the first three months of the year, but they still accounted for 28 percent of all home sales.
Read more on MSNBC
Need Los Angeles Short Sale Help To Stop Foreclosure? Loan Modification Not Working?
www.asapshortsale.com 17609 Ventura Blvd Suite 208 Encino CA 91316 United States (818) 582-6100 Avoid Foreclosure, Short Sale, Loan Modification, Bankruptcy. What to do? Do what is best for you and your family! In 6 minutes we will show you what the smart money is doing.
Rise in foreclosure sales in Richmond area
Rise in foreclosure sales in Richmond area
Foreclosure sales made up 21 percent of all home sales in the Richmond area during the second quarter, that’s according to online research group, RealtyTrac.
Read more on NBC 12 Richmond
Kenneth Harney: Foreclosure alternative gaining favor
Kenneth Harney: Foreclosure alternative gaining favor
Short sales have been the hot solution for financially stressed homeowners and their lenders for the past year, but here’s another potent foreclosure alternative that’s about to take center stage: deeds in lieu. Business – Mary Harney – Investing – Health – Newspapers
Read more on Washington Post