Where's my mortgage help?
Ok … Then I sold my house and I had to pay $ 5K at closing. This was not an implementation mortgage or sell short or anything. I had a fixed rate loan, and bought a house in my financial means. Now the government speaks of "rescue" struggling homeowners. Where is my help? I was the responsible one here. Good financial decisions I did when I bought my house. Because others could not pay their mortgage because they earn $ 40k/year and bought a $ 300k house … I had to sell my condo fat – less than what you paid for it … Where is the logic there? Where is my "bail-out? BTW: http://www.irs.gov/faqs/faq10.html 10.4 Capital gains, losses / House for sale: Losses (houses, stocks and other assets) is the loss on the sale of your home franchise? The loss on the sale of a personal residence is a non-deductible personal loss. sucks to be me!
You should feel happy you do not need to go through the short sale and foreclosure penalty for selling your home. Many of them highlight the dramatic experience in this process and take too long to sell on the market. The loss of money results from the sale of your home, you can claim the loss in the year 1040 another because their home was sold at a lower price than you paid. (I think) Check with the desk. I know that the loss is not deductible. I remember my husband said that even the loss of the action you can claim only $ 3000 (?) Each year. That's really sucks.
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