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Rental Property Short Sales

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musicaes07 commented on 29 Dec 2011
what about the difference that the lender did no recieved? On an investment property such as a rental, is the difference of the debt forgiven? or does the home owner have to pay taxes on the difference? specially when its not an owner occupy house. Help!
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Mark Alan Adams commented on 29 Dec 2011
the difference may be forgiven. It's a case by case basis. As far as tax liability, that is an issue best discussed with your CPA. A good CPA can write off your losses and reduce your tax bill significantly. Are you located here in Florida?
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Mel Bynum commented on 06 Dec 2013
How were attorney fees covered in the closing you mentioned in your video? I'm told these fees are usually separate and paid by the seller out of pocket.

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