Sep 05 2008
Tax Implications for Foreclosed Properties
Many people dont realize that the effects of a foreclosure last well beyond the sale of the home at public auction. Even after your home has been taken from you, you still may be held accountable for the taxes on the difference between the sale price and the mortgage amount. While this may be adding an insult to an already injured individual, it is currently the law, and even more of a reason to fight tooth and nail to avoid the foreclosure of your home.
Well written article.