Charged-off debts aren’t... 04/10/2014
Q. I have a debt that’s expected to be charged off and forgiven by my creditor. But what happens t..more
Strategic default may be the answer. You have options when it comes to your underwater property.
If you short sell or walk away, you may be surprised to find that you are taxed on the forgiven debt.
You may be surprised to find that you are personally liable for the shortage after foreclosure or short sale.