Tag Archives: Debt relief

What Every Seller Should Know About Cancellation of Debt in a Short Sale

The basic premise behind a short sale is that the seller will negotiate with their lender to sell the house for less than what is owed. ¬†If the lender also agrees to “cancel” or “forgive” the short amount, then there may be a resulting tax liability for that amount. ¬†According to a recent article on […]

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