Pam Adkisson: Short Sales vs. "Reduced Payoffs" - Is there a difference tax or credit wise??

Short Sales vs. "Reduced Payoffs" - Is there a difference tax or credit wise??

I am hearing some buzz, that there have been negotiated and accepted "Reduced Payoffs" to lenders, where there are no tax or credit implications to the seller in a purchase transaction.

I know that if it looks like a SS, smells like a SS, it probably is a SS>  Still, in a lending environment that changes hourly, does anyone have the bonafide straight scoop on this??  

Pam Adkisson - Hostess, Rice Ranch New Home Community and The Woodlands in Nipomo

DRE License:  00997989

pam.adkisson@gmail.com

805-478-4090

 

0 comments • Pam Adkisson • March 18 2010 11:55AM

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