I live in San Diego, CA. I refinanced my home in April 2007. I have int. only loan for 435k. I have a short sale approval for 345k. Will I have to pay the difference (90k)and be taxed on the difference? Should I cancel the short sale. What is recommended?
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05-08-2008, 03:07 PM #1Senior Member
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Am I responsible for the difference and taxes in a short sale?
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Is the seller responsible for the difference in a short sale?
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What will I owe in taxes for doing a short sale on my home?
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