Flippers find most of their below-market deals from short sales.
Ordinarily, the IRS considers forgiven debt a form of income, which it is. In 2007 Congress passed the Mortgage Foreclosure Debt Forgiveness Act which allowed borrowers who short sell their houses to avoid taxation on forgiven...
Flippers rip off lenders through short sales
Wednesday, March 18, 2015
OCHN: Flippers rip off lenders through short sales
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