should i do a short sale: When Can Sellers In A Short Sale Stop Looking Back Over Their Shoulders? - 02/23/10 11:35 AM
When Can Sellers In A Short Sale Stop Looking Back Over Their Shoulders?

 
 
 
 
 
With the possible pitfalls of a short sale, it's no wonder many people aren't even attempting short sales as a way out.  They are just ignoring it all until it happens.
If the lender just removes their lien for an agreed upon sale price, they may retain a "note" for the unpaid balance and come back after the poor seller later on.
If they cancel the debt, then the ex-homeowner could be taxed by the IRS on the amount "forgiven."  The IRS … (4 comments)