One more question. If somone can clear up one more think. I read the link that UCGal provided. I’m not clear on this part: “If you have owned and used the home as your principal residence for periods totaling at least two years during the five year period ending on the date of the foreclosure, you may exclude up to $250,000”
If the property was rented the last year, but the property was owned for 5 years, would they qualify?
