A short sale occurs when a homeowner in financial distress sells their property for less than the amount due on the mortgage. In one case, homeowners filed for bankruptcy and when their petition was discharged, they kept their home, but their mortgage loan was changed from “recourse” to “nonrecourse.” This meant that the lender (CitiMortgage) could […]
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Title Of post: Homeowners Could Deduct Mortgage Interest Lender Received on Short Sale
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