Foreclosure consequences

Video by: MiCasaMiDinero
Video Description:
This video is from the show Open House on CNN. This video briefly explains what some tax & credit consequences homeowners may face after a short sale or a foreclosure. Consult with a CPA or your attorney for specifics.
More information at:
http://sccrealestateuncensored.com/2007/shortsale-foreclosure-pt4/
Tags: consequences foreclosure home house ramifications sale short foreclosure consequences

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Just tell the ... ( 1 month ago by YouChooseASide)

Just tell the lender that IF they make you pay the taxes on it you will just destroy the property before you leave. If he gives you a letter that lets you of the tax part you will leave the house in good condition, if not tell them good luck in trying to resell the house

Threatening ... ( 1 month ago by arbuge)

Threatening criminal action will get you in even bigger trouble. That's really bad advice.
Figuring out your a way - any way - to meet your obligations is what you should do. Work three jobs if you have to.

ya the fact is its ... ( 1 month ago by YouChooseASide)

ya the fact is its still your house untill they take it from you. So you can do what you what with your property. By the way that wasnt advise. it was merly a thought. you know freedom of thinking. think about it

Credit is a joke ... ( 3 weeks ago by Anothercoilgun)

Credit is a joke and robs people of free will and the right to pursuit happiness. Given I have no reason to have a bunch of stupid open credit accounts, my decision to not create accounts will cause me to pay more for the exact same items than others would. Beyond all logic and reason stupid as hell.
Don't have so many. Don't have so few. Don't have them empty. Don't have them near full. Don't inquire on your credit. The list of childish disgrace goes on and on.

Prime example of ... ( 3 weeks ago by jyatlantic)

Prime example of why fixed rate mortgages are essential.
On another note, buy low and sell high. If you have the means, these foreclosures present an ideal time to buy. Make sure to sell during the next housing boom!

Ha Ha ha ( 2 weeks ago by moniequa)

Ha Ha ha

Amen ( 2 weeks ago by 666XZ)

Amen

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