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FINALLY, got us a short sale :)
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[QUOTE]Originally posted by venomous99: [QB] [QUOTE]Originally posted by hidnn.o.s.: [qb] [QUOTE]Originally posted by Luke87GT: [qb] Like Don said, a small part of me believes that there will be major reprocussions that have not yet surfaced for doing something like this. Time will tell. [/qb][/QUOTE]Nate doesn't think so, but trust me, there will ;) I'm not here to convince or argue with Nate, he'll need to find this out for himself. I just hope he doesn't jump on and claim racism from the bank when it happens!!! :eek: That last part was a joke..... Lame that I have to even mention that.... [/qb][/QUOTE]don, what consequences do you speak of aside from having the credit hit? assume he short sales on the 1st home and didnt do a cash out refi, he'll be forgiven the money lost from the short sale as far as federal taxes are concerned. id be interested to hear what other repercussions are there? most ppl cant swing what n8 just did cuz most are already in financial ruin and dont have a healthy application to put in a bid for another home but from what i hear banks are keen on ppl doing this sort of switcharoo.and therefore are more strict on approving loans for rental properties. [/QB][/QUOTE]
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