Insolvency and Avoiding Tax on an Investment Property If you can prove insolvency at the point immediately before the short sale of your investment property you will have NO tax to pay. Insolvency is when your total debts exceed your total assets. 401ks and IRAs are assets even though they can not be touched either [...]
Many have described the 2009 housing market as the “year of the bank” with institutions needing to approve short sales and foreclosures on the homes they owned. In some markets this was a significant part of the available inventory. For example, f
Is the Obama Making Homes Affordable Plan a Disaster? Critics of the Obama administration’s $75 billion program to protect homeowners from foreclosure increasingly argue that the program, Making Home Affordable, has raised false hopes among p
Are The Banks Breaking The Law? Diana Olick of CNBC has exposed an alleged practice by banks to recoup second mortgages by demanding cash, off the HUD settlement statements, from either real estate agents or the buyers in short sales. Olick say
