What you NEED to know about short sales and “just walking away” – and no one is telling you.

  • The lender may get a deficiency judgment against you personally, whereby you may be PERSONALLY liable after the short sale or foreclosure.  We can help you avoid this deficiency judgment.
  • You may receive a 1099-C, whereby the amount of debt forgiven is subject to TAXABLE INCOME after the short sale or foreclosure.  We can help eliminate this tax liability for investment properties and not just your primary residence.
  • Your assets are NOT safe from bank seizure both DURING and FOLLOWING the short sale process. We can help to protect you from potential garnishment of your wages and attachment of your other assets.
  • You CAN fight foreclosure – we can help you with foreclosure defense and litigation.  Our goal is not to delay the inevitable, but to prevent personal liability and adverse tax consequences.

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    Upside-Down Mortgage

    Home Mortgage/ Investment Property

    Strategic default may be the answer. You have options when it comes to your underwater property.

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    Minimize

    1099-C Tax Impact On Investment Property

    If you short sell or walk away, you may be surprised to find that you are taxed on the forgiven debt.

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    Avoid

    The Deficiency Judgment

    You may be surprised to find that you are personally liable for the shortage after foreclosure or short sale.

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