Posted on: 16th Sep, 2010 07:37 pm
If I do a Deed In Lieu, am I exempt from taxes on the difference because of the Mortgage Debt Relief Act? I am permanently disabled since 2005, and financially insolvent. No modification; I need to get out from under this property. Everything is now gone. Thank you.
hi ranchagain!
welcome to forums!
after a deed in lieu of foreclosure, the lender will forgive the deficient balance resulting from the property sale. you won't have to pay the balance dues resulting from the sale due to the mortgage debt relief act.
feel free to ask if you've further queries.
sussane
welcome to forums!
after a deed in lieu of foreclosure, the lender will forgive the deficient balance resulting from the property sale. you won't have to pay the balance dues resulting from the sale due to the mortgage debt relief act.
feel free to ask if you've further queries.
sussane