Suzie Orman talks about tax relief you are entitled to when you sale through a short sale. In the video it is discusses that you do not owe income tax of the loan forgiven...
When you owe more on your home than it's worth you may want to do a short sale. In a short sale the bank forgives some of what you owe them. It's more cost-effective for a bank to do a short sale than foreclose on a home.
Realty Net, Real Estate, Wilsonville, OR

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