Re: and ...

Posted by steele in minnesota on December 22, 2007 at 12:46:16:

In Reply to: Re: and ... posted by NJD on December 22, 2007 at 10:08:29:

Let's not Grinch things up:>)

This is a heck of alot better than proving things with the IRS under the old system and does meet the needs of the majority of people on this forum who are being foreclosed upon.

And why would there suddenly be any increase in lenders demanding cash at closing or requirng a borrower remain liable for debt after closing. The lenders I am talking to don't usually do this in the first place.

They think it's a good thing and will smooth short sales a great deal. Many people in foreclosure are not insolvent. They are in a bad situation, but can still be hurt by the tax consequences.

I still think this is good news.

Steele

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