Cancellation of Debt
Additional judgment that the bank can make against a homeowner Tax liability in a Short Sale or a Foreclosure.
Is a legal judgment that is awarded in court No liability acquisition debt of a personal residence
Available to a bank in 100% of foreclosure cases Also no liability on funds borrowed to improved the basis of a property
Can be negotiated in some short sales Liability exists on all second homes and investment property
Liability exists on after purchase financing above original amount financed
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