Re: re: deed in lieu
Posted by NJDave on May 01, 2005 at 09:42:24:
In Reply to: re: deed in lieu posted by jenni on April 28, 2005 at 10:36:48:
I'd really be interested in knowing exactly what they are offering you.... so when you get the papers, please let me know..
In theory, if they accept a DIL, they'll accept the property and cancel the debt.
You might want to speak with a CPA about possible tax consequences... I'm not suggesting that you'll owe tax on the forgiven debt... just that you should have a plan.
