Foreclosure Of Investment Property
Foreclosure Of Investment Property
What is the effect of allowing an investment property in foreclosure?
I've been trying to find out what happens when a property Investment letting go. Is it the same as a normal foreclosure or short sale, where you get taxed on the difference? Or is there some other way this shot. Just a question not my situation!
I do not think you will be taxed for the diference. When a property is sold forclosure your local courthouse. It is sold by the lender made a substitute trustees. That means that it is being sold is the lender. The lender would be liable for tax obligations so the shortage or excess in the sale of the property. The onlly suffer a big stain on your credit.
Foreclosure and Investment Property Buyers’ Clinic pt2
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