This does not mean a foreclosure or a short sale is imminent for all homeowners. Get a supply of small bills and coins for making change on yard sale day. To accomplish that objective you must first satisfy the client's initial wants or needs.
Christmas, the New Year and the silly season might be officially over but there are still some great things about the lingering summer days of January and February. Not only is the weather warm, but it's the best time to snap up summer sale items.
Once you close , you will get a 1099 for the deficiency amount (amount you owed on your mortgage minus the sale price). That 1099 is considered "ghost income" on your income taxes. So, if your deficiency amount was $100,000, then add that to your actual income for that year and that amount is what your income taxes will be based on.
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