Anecdote heard from a friend who has a neighbour going into foreclosure:
Second mortgage is wiped out leaving a loan of 140,000. No profit at all if they sell within 3 years. 50% profit for home”owners” if they sell after 3 years. Have to pay 2000-3000 dollars to the federal govt every year under the bailout, not sure what thats all about.
That kind of bailout might just make everyone go into foreclosure willingly.
How does the Government collect the profits on a future sell? Is it collected at closing and remitted to the IRS? How is the profit calculated? How are improvements to property handled relative to profits?
How does the Government collect the profits on a future sell? Is it collected at closing and remitted to the IRS? How is the profit calculated? How are improvements to property handled relative to profits?
How does the Government collect the profits on a future sell? Is it collected at closing and remitted to the IRS? How is the profit calculated? How are improvements to property handled relative to profits?
How does the Government collect the profits on a future sell? Is it collected at closing and remitted to the IRS? How is the profit calculated? How are improvements to property handled relative to profits?
How does the Government collect the profits on a future sell? Is it collected at closing and remitted to the IRS? How is the profit calculated? How are improvements to property handled relative to profits?
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