Frequent Contributor
Posts: 320
Registered: ‎07-08-2012
Re: Short sale deficiency amount question
Depends on the situation and state.

Certain states allow for a deficient judgement and others dont with a foreclosure.

Talk To a tax advisor for the short sale tax questions but I believe if your held liable then I wouldn't understand why there would be a tax liability if you owe the money. If it was "forgiven" then sure. But even in that case the mortgage debt forgiveness relief act may apply.