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Re: Facing Foreclosure in Sacramento, CA

Posted by NJD on January 03, 2007 at 03:03:35:

In Reply to: Re: Facing Foreclosure in Sacramento, CA posted by gary on January 02, 2007 at 22:04:44:

Even if the lender agrees to forgive the difference between the home's selling price and what is owed (preforeclosure short sale) there may be a liability to income tax.... But, the preservation of your future creditworthiness by avoiding foreclosure may be worth the tax hit.

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