Short Sales/Pre-Foreclosure

Cutting Loose

Some real-estate investors are considering walking away from their mortgage loans. Here’s what to consider:

• An investor’s credit score could be sharply impaired.

• Lenders may go after your personal assets.

• Part of the loan amount that is forgiven could be considered taxable.

• Before walking away from a mortgage, consider seeking a loan “workout” with your lender.

Burned by Real Estate,
Some Just Walk Away