Re: Foreclosure vs. Short Sale

Posted by Julio Martinez-Clark on March 28, 2008 at 17:41:39:

In Reply to: Foreclosure vs. Short Sale posted by Rosemarie on March 28, 2008 at 13:52:25:

Rosemarie,

On a short sale, the lender(s) will usually waive their rights to a
mortgage deficiency judgment.

You must take into consideration the tax consequences of both short
sale and a foreclosure auction sale
(www.irs.gov/newsroom/article/0,,id=174022,00.html)

Julio Martinez-Clark

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