Re: implications of foreclosure on 2nd trust deed
Posted by NJD on July 22, 2008 at 14:09:58:
In Reply to: implications of foreclosure on 2nd trust deed
Posted by eric on July 22, 2008 at 13:43:01:
If the second mortgage loan proceeds were used for capital improvement the debt forgiveness may be exempt from tax. Insolvency trumpts tax liability, too. Check with a CPA
Follow Ups:
- Re: implications of foreclosure on 2nd trust deed - Mary Supinger 15:43:55 07/26/08
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- Re: implications of foreclosure on 2nd trust deed - Bob Gray 11:09:53 07/23/08
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- Re: implications of foreclosure on 2nd trust deed - Bob Gray 11:09:16 07/23/08
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- Re: implications of foreclosure on 2nd trust deed - NJD 13:15:35 07/23/08
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