short sale

10-03-2009, 09:30 AM

Daedalus09 Daedalus09 is offline

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Join Date: Oct 2009

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short sale

I'm a Minnesota real estate investor who lost his shirt in the crash. I am lining up a short sale to "satisfy" the debt. I've got it in writing that the bank won't seek a deficiency judgement. How do I avoid having the bank's loss classified as my taxable income? Are there other dangers I need to take into account?What is the name of your state (only U.S. law)?What is the name of your state (only U.S. law)?

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