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March 11, 2009 at 3:37 PM #364741March 11, 2009 at 3:58 PM #364153
SD Realtor
ParticipantLike I said, you definitely want to check in on the tax liability. You carry a possible tax liability regardless of whether you perform a short sale, go through a foreclosure, or even execute a deed in lieu of foreclosure.
Not many people know this. You may want to seriously review the Mortgage Debt Relief Act. I would advise you to or work with an accountant who is experienced with it.
Pain in the ass shortsales are a pain in the ass but if you have a good agent it makes it alot less of a pain in the ass. Again though, regardless of short selling or foreclosing don’t be blind to the IRS. If you are going BK or can prove insolvency then you are good to go.
March 11, 2009 at 3:58 PM #364440ParticipantLike I said, you definitely want to check in on the tax liability. You carry a possible tax liability regardless of whether you perform a short sale, go through a foreclosure, or even execute a deed in lieu of foreclosure.
Not many people know this. You may want to seriously review the Mortgage Debt Relief Act. I would advise you to or work with an accountant who is experienced with it.
Pain in the ass shortsales are a pain in the ass but if you have a good agent it makes it alot less of a pain in the ass. Again though, regardless of short selling or foreclosing don’t be blind to the IRS. If you are going BK or can prove insolvency then you are good to go.
March 11, 2009 at 3:58 PM #364746ParticipantLike I said, you definitely want to check in on the tax liability. You carry a possible tax liability regardless of whether you perform a short sale, go through a foreclosure, or even execute a deed in lieu of foreclosure.
Not many people know this. You may want to seriously review the Mortgage Debt Relief Act. I would advise you to or work with an accountant who is experienced with it.
Pain in the ass shortsales are a pain in the ass but if you have a good agent it makes it alot less of a pain in the ass. Again though, regardless of short selling or foreclosing don’t be blind to the IRS. If you are going BK or can prove insolvency then you are good to go.
March 11, 2009 at 3:58 PM #364599ParticipantLike I said, you definitely want to check in on the tax liability. You carry a possible tax liability regardless of whether you perform a short sale, go through a foreclosure, or even execute a deed in lieu of foreclosure.
Not many people know this. You may want to seriously review the Mortgage Debt Relief Act. I would advise you to or work with an accountant who is experienced with it.
Pain in the ass shortsales are a pain in the ass but if you have a good agent it makes it alot less of a pain in the ass. Again though, regardless of short selling or foreclosing don’t be blind to the IRS. If you are going BK or can prove insolvency then you are good to go.
March 11, 2009 at 3:58 PM #364633ParticipantLike I said, you definitely want to check in on the tax liability. You carry a possible tax liability regardless of whether you perform a short sale, go through a foreclosure, or even execute a deed in lieu of foreclosure.
Not many people know this. You may want to seriously review the Mortgage Debt Relief Act. I would advise you to or work with an accountant who is experienced with it.
Pain in the ass shortsales are a pain in the ass but if you have a good agent it makes it alot less of a pain in the ass. Again though, regardless of short selling or foreclosing don’t be blind to the IRS. If you are going BK or can prove insolvency then you are good to go.
March 11, 2009 at 4:07 PM #36460992027_guy
ParticipantSDR: Thanks for all your help over the time, I’m mostly a lurker here but post now and again, always notice your willingness to help me and others.
When the time comes for us to buy again, and if it’s in San Diego I’d like to see if you’re interested in being our agent? Maybe you can PM me with your contact info (does this forum allow that?) or post it here if you’re OK with that?
PS Yeap I went BK because of rental obligations so I’m covered both federal and state. /sarcastic Yeah/
March 11, 2009 at 4:07 PM #364756ParticipantSDR: Thanks for all your help over the time, I’m mostly a lurker here but post now and again, always notice your willingness to help me and others.
When the time comes for us to buy again, and if it’s in San Diego I’d like to see if you’re interested in being our agent? Maybe you can PM me with your contact info (does this forum allow that?) or post it here if you’re OK with that?
PS Yeap I went BK because of rental obligations so I’m covered both federal and state. /sarcastic Yeah/
March 11, 2009 at 4:07 PM #364643ParticipantSDR: Thanks for all your help over the time, I’m mostly a lurker here but post now and again, always notice your willingness to help me and others.
When the time comes for us to buy again, and if it’s in San Diego I’d like to see if you’re interested in being our agent? Maybe you can PM me with your contact info (does this forum allow that?) or post it here if you’re OK with that?
PS Yeap I went BK because of rental obligations so I’m covered both federal and state. /sarcastic Yeah/
March 11, 2009 at 4:07 PM #364450ParticipantSDR: Thanks for all your help over the time, I’m mostly a lurker here but post now and again, always notice your willingness to help me and others.
When the time comes for us to buy again, and if it’s in San Diego I’d like to see if you’re interested in being our agent? Maybe you can PM me with your contact info (does this forum allow that?) or post it here if you’re OK with that?
PS Yeap I went BK because of rental obligations so I’m covered both federal and state. /sarcastic Yeah/
March 11, 2009 at 4:07 PM #364163ParticipantSDR: Thanks for all your help over the time, I’m mostly a lurker here but post now and again, always notice your willingness to help me and others.
When the time comes for us to buy again, and if it’s in San Diego I’d like to see if you’re interested in being our agent? Maybe you can PM me with your contact info (does this forum allow that?) or post it here if you’re OK with that?
PS Yeap I went BK because of rental obligations so I’m covered both federal and state. /sarcastic Yeah/
March 31, 2009 at 9:01 PM #375121Anonymous
Guesturbanrealtor – I’m interested in getting a legal referral from you…been talking to a few real estate attorneys who don’t seem too competent. Thanks!
March 31, 2009 at 9:01 PM #375403Guesturbanrealtor – I’m interested in getting a legal referral from you…been talking to a few real estate attorneys who don’t seem too competent. Thanks!
March 31, 2009 at 9:01 PM #375582Guesturbanrealtor – I’m interested in getting a legal referral from you…been talking to a few real estate attorneys who don’t seem too competent. Thanks!
March 31, 2009 at 9:01 PM #375626Guesturbanrealtor – I’m interested in getting a legal referral from you…been talking to a few real estate attorneys who don’t seem too competent. Thanks!
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