Ok…everyone knows the real estate market is not too good right now so we are thinking of short selling our house. It is a house we bought for my parents and now they cannot afford it. Yea..yea…please save the lecture. I wish we had never done it.
Can anyone out there please tell me more the pros and cons for short sell on a house. We’ve heard that we will have to pay back taxes at the end of the year if we did short sale our house? I am scared. Please help!
Thank you so much in advance.