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IRS answers to foreclosure questions

By
Real Estate Agent with no current broker affiliation

Did you know there can be tax consequences for losing your home in foreclosure or having part of your debt forgiven in a short sale?  Did you know that there are some exeptions?

Even if your home is not in foreclosure, or in danger of foreclosure, I recommend reading the following Foreclosure Q & A on the IRS website.  You never know when you, or someone you know, may need this info.

Nancy Moeller
Seven Gables Real Estate - Anaheim Hills, CA
Good reference Cindy and yes, there are great exceptions!
Oct 18, 2007 06:53 AM