[quote=tugg49]Just signed the docs.
Close on Monday.
Occupant has packed and house is empty. Agent did a great job.
Bank says no extension. Deal is dead if it doesn’t work.
It worked. Moving in next week.
Got a lot of info on the the tax forgiveness.
Any piggie give accurate info about the tax forgiveness details when you short sale. What I heard told me that if I was upside down I’d bail and wait three years for credit remedy and move on.
Am I off the mark?
THANKS PIGGIES IT WORKED!!!!!!!!!!
132 bucks a s/f….argue with that![/quote]
CONGRATS, tugg!! Happy early Holidays!!
Are you asking the tax forgiveness question for yourself (if you feel you need to SS in the future?) or for your “seller?”
If it was you that you were asking about, the only place I can see where you might be a little off the mark is that you won’t be able to “guarantee” that your credit score will come all the way back to where it was before you “strategically” defaulted/sold short at exactly the three year point. Depending upon the amount sold short and the extent of default, I believe it wildly varies how long it takes the credit score of an owner who sold short to completely recover from it, assuming they have no other credit issues.
Your agent sounds very competent and professional, even though acting in the capacity of dual representation. It appears he didn’t try to slip in a friend or relative-buyer AFTER your offer was approved by the lender. And he was able to control his client-seller. This was his most important function in this long SS saga, IMHO.
