Ibrahim Hughes
Deficiency Judgments & Debt Relief Tax Liability
If a seller of a vacant (and run down) property get's debt forgiveness in a short sale, are they liable tax wise (to the IRS) for the forgiven debt if the house was a rental at the time of purchase?
How about it was ...
Rick Rapant
Re-performing Note with a Deficiency Lien Judgment
The Info:Seller of a note, I'm considering on purchasing, foreclosed on the borrower back on 12/25/2014 and holds a 100k deficiency lien judgment on them. The borrower, same individual, wants to stay in the home and ...
Daniel Sisto
Deficiency Judgement & Mortgage Forgiveness Debt Relief Act
Goodmorning,How are Deficiency Judgments and the Mortgage Forgiveness Debt Relief Act effecting the amounting of short sales that are on the market and the deals that pertain to them with the sellers. I understand the...
Andrew Bissada
Deficiencies found by inspector - who pays for them?
When an inspector finds Deficiencies in a home that need to be fixed (thats put in their report), who ends up paying for these deficiencies? Is it the seller?
Eric Nunez
Deficiency judgement from property bought in LLC - help!
Hi guys - I’m a new investor and purchased a property in my LLC with a promissory note. It was a short term loan and I ended up defaulting and the lender foreclosed.
Now they’re pursuing me for a deficiency judgement...
Brian Rouse
knocking on doors Of County's tax deficient list
First time on BP and i have so many questions. But first i have stumbled through most of this on my own. The question i have is, i have the list from the county of homes four years of unpaid taxes. Has anyone just gon...
Daniel Sisto
Deficiency Judgement & Mortgage Forgiveness Debt Relief Act
Goodmorning,How are Deficiency Judgments and the Mortgage Forgiveness Debt Relief Act effecting the amounting of short sales that are on the market and the deals that pertain to them with the sellers. I understand the...
Sheldon Caruana
What are considered deficiencies when inspecting a rental unit?
Any property mangers out there able to help me with understanding some terminology.I recently made it the final stages of an interview process for a property inspector position, and have been assigned a case study in ...
Jeff A
How to get B of A to waive deficiency?
Can anyone suggest the most effective way to get B of A to waive their right to pursue deficiency?
I received a short sale approval from B of A with the clause saying they can pursue the deficiency:
"BAC Home Loans ...
Kris Lai
legLender won't send 1099-C, possible deficiency on Short Sale
I short sold a non-owner occupied SFR in November. The loans were with Nationstar (transferred from Aurora, my original lender) and Bank of America. I received my 1099-C from BofA but not Nationstar. Called them to...