Through foreclosure in California. It has a first and second mortgage equity line.?
What are the implications through foreclosure of tax? Also, I'll have to repay the bank for losses incurred by selling the property?
You do not pay money to the bank. You say that the money you do not pay as income and pay state and federal felony. The bank (s) is sent and the government, to 1099 and found the money as income.
Second Wave Of Mortgage Defaults Part 2
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