Short sale

[cementcreek]

Long story short, got myself in a bad spot and now need to offload a couple of house. Looking to do short sales to avoid letting the bank take everything.

Other than the 1099 what should I be on the lookout for?:confused:

[Ugarte]

The short sale process is slow.

You can always try to negociate a deed in lieu of foreclosure and deficiency forgiveness should the property not sell.

[rwanders]

The IRS will not consider any resulting deficiency on your "primary residence" as "income"----second homes and/or investment properties will not enjoy such favorable tax treatment. It is not up to a lender to make that determination---it is in the Federal Tax Codes. You should consult a CPA or tax attorney before you make a really bad tax problem for yourself. Debt to a bank is one thing---debt to the Feds is much much worse.

[modpod77]

Doe anyone here know apartment for rent?
I'm looking for a apartment, a 3 bedroom one. Better if it furnished!
If anyone have information, share it with me,plz :D Thank you so much!

[Don_P]

In Hanoi?... doubtful.

[WireMan]

close to the Phở restaurant maybe? ;)