Very interesting, I never would have known that you don't get a tax break for that. That's nuts!
NM real estate | Homepage | 09.15.07 - 2:03 am | #

I think what you're talking about when the bank takes less than what is owed is a short sale. People considering a short sale really need to understand the tax implications.
Sam Chapman | Homepage | 09.26.07 - 9:45 pm | #

How else are we going to pay for all those sweet, sweet bombers and air craft carriers that delight us at the air and water show? When you are lucky enough to go through a foreclosure you should share some of that good fortune with the IRS!?

Next we can pay sales tax on parking tickets?
Brad Miller | 08.29.08 - 10:14 am | #