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what is my liability after walking away from a home under water?

Posted on: 11th Jun, 2009 03:23 pm
what am i liable for after walking away from a home upside down or uner water/ and what would my tax liability be?
peepspals

Welcoem to the forum

Probably after you walk out, the lender will forclose on your property and it will surely will have a impact on your credit report

The lender may send you a form 1099-c fordeficient amount and due to the current law, you are not laible for any taxes on that amount

Good luck and feel free to aks
Posted on: 11th Jun, 2009 08:17 pm
i think do not provide chance to lender to forclose property.
Posted on: 12th Jun, 2009 01:28 am
Mr Sunil87020

Can you tell the guest how can they can they do that
Posted on: 12th Jun, 2009 07:51 pm
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