deed in lieu of forclosure tax ramifications
Posted by HELAYNE HERSHOWITZ on February 28, 2004 at 15:52:34:
Many of my customers consider giving the banks/lenders what they are being told is a deed in leui of forclosure, but they are not being given the tax ramifications of doing it that way, they are pretty much being told that the forclosure does not show, but I am hearing they are getting nice big 1099 irs forms stating addl income, usually the initial amoun tof the mortgage loan, forcing some right into bk, , lets use california, please clarify whats a deed in leiu or estoppel in compareson to a full final forclosere to the homeowner, thanks
- my $.02 - TheShortSalePro 08:47:11 03/01/04
(2)
- Re: my $.02 - Jeanette 10:21:48 03/01/04
(1)
- Re: my $.02 - Jeanette 10:29:34 03/01/04
(0)
- Re: my $.02 - Jeanette 10:29:34 03/01/04
(0)
- Re: my $.02 - Jeanette 10:21:48 03/01/04
(1)
