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How would a short sale affect me?

short sale


I currently owe about $330,000 on my home loan if my bank accepted $300,000 because of a short sale, how will this affect me?

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   Posted in Short Sale    

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2 Responses to 'How would a short sale affect me?'

  1. SONIA L - May 28th, 2008 at 6:19 pm

    by short sale mean do you mean writing off your debt

  2. financing_loans - May 30th, 2008 at 8:30 pm

    you would have 30,000 that you would have to pay taxes on like capital gains or income. But Bush is trying to work with congress to do away with this tax. Hasnt happend yet, hope that its retroactive. I know they are working on it now.

    Good luck.


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