Foreclosure in 55407 : Advice

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Gregory Carr…, Real Estate Pro in Laguna Niguel, CA
Gregory Carruthers -MBA, e-Pro answered:
If i do a short sale on my rental property-has a 1st & 2nd mortgage & is underwater - will i be taxed by IRS on deficiency's &
You should still proceed with a short sale. It will be better for your credit and allow you to purchase another home in the future more quickly than with a foreclosure on your record. I ... more
0 votes Share Flag Thu Nov 3, 2011 Foreclosure in 55407
John Walin, Real Estate Pro in Libertyville, IL
John Walin answered:
Well known Arizona law professor/expert thinks if you are way underwater on your home loan people should let go to foreclosure.
This isn't an ethical question at all. I wish scofflaws would be scarlet lettered and made to pay back every penny, photos and names in the newspaper and registered like sex offen ... more
1 vote Share Flag Tue Oct 25, 2011 Foreclosure in 55407
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