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Facing Foreclosure – The Cure

by Tony on November 27, 2009

Check out www.GoHomebuyer.com to take the whole Facing Foreclosure online training course. This video includes one section of the course, which offers insight into loan reinstatement options. These options may prevent foreclosure and allow you to keep your home. They include a refinance, reverse mortgage, repayment plan, loan modification, forbearance, and partial or advance claim. Tag along with the Johnson family as they discover which option can help them avoid a foreclosure….

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I purchased my home in April of 2006 for $675,000, no money down. It is now worth roughly $525,000 and I am facing foreclosure. I have not re-financed and my understanding is that I have a non-recourse loan. Will I owe the IRS taxes when my property is foreclosed on?

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