Gray Nike Air Max 2016

Gray Nike Air Max 2016

Originally posted by Tony Lessan:Thanks James. Is the seller liable for the shorted difference as taxable income if its not their primary residence?

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Gray Nike Air Max 2016

Gray Nike Air Max 2016

Yes! All Recourse notes/HELOC etc. Ariz. just passed a new law on this subject and is going after any and all $$$$. Every deficiency judgement is reported to the IRS and State. Bottom line is; Cities and States are hurting for money. You may not have to pay Fed. income taxes because of the bail out (forgiveness)! But that law has nothing to do with the States and Cities who are trying to stay solvent! FYI! Lenders don pursue deficiency judgements they just report them to the IRS and State Tax boards as Income.

Gray Nike Air Max 2016

Edited Jun 26 2010, 09:18 by Matt Mathews

Gray Nike Air Max 2016

Gray Nike Air Max 2016

If your state allows for a deficiency, then you better get a waiver or have the seller sign an Gray Nike Air Max 2016 exception.

Also, does the waiver of deficiency on the acceptance letter apply to the mortgage and promissory note?

Gray Nike Air Max 2016

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Gray Nike Air Max 2016

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something that a lawyer would have to handle and address with the homeowner.

Deficiency Judgements

is a deficiency state, BOA did file a judgment against the homeowner post sale. I have yet to have one filed in an anti deficiency state. Lenders are indeed allowing the option to pursue a deficieincy more and more.

waiver addresses the mortgage and/or the note. It addresses both Hope this helps.

Originally posted by Minna Reid:The lender is not a party to the contract so it doesnt matter what you put in there. The Approval letter would have to state those things in order for the homeowner to be completely free of any later collection activities.

Tony, the answer to both of your questions is YES. I have heard that the homeowners can get out of the tax liabilities, but that is Nike Air Max Men 2016

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Gray Nike Air Max 2016

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