Question Details

Oana_giraldo, Home Buyer in Woodstock, GA

Should I do a shortsale on a house that was included in bankruptcy and discharged?will I have to pay taxes after shortsale?

Asked by Oana_giraldo, Woodstock, GA Sat Feb 23, 2013

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Talk to your attorney. A short sale might be the right thing to do, morally, however, it is entirely up to you whether you want to go through the trouble considering the bank can no longer come after you for a deficiency judgment. As for taxes, I assume you are discussing income taxes. Again, that depends, verify with your attorney and your tax preparer, but if it was your primary residence, probably not. It should be covered by the Mortgage Debt Forgiveness Act. Your attorney and tax preparer will know for certain.
0 votes Thank Flag Link Sat Feb 23, 2013
This is a question for your attorney.
0 votes Thank Flag Link Sat Feb 23, 2013
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