Foreclosure Consequences

This video is from the show Open House on CNN. This video briefly explains what some tax & credit consequences homeowners may face after a short sale or a foreclosure. Consult with a CPA or your at…

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10 Responses to “ Foreclosure Consequences ”

  1. Good interview but not enough information.

  2. just lost our house

  3. Foreclosure makes sense sometimes.I would only stay in the home if you like the home, like the neighborhood, it is still cheaper than renting, and you plan to stay in that area for a long time.Banks are fucked themselves, because they can’t make money without lending, and with many people foreclosed, they will have to give them another chance.Never chase good money after bad, and don’t be a slave to the bank. Go away Gerri, and your guest, both corporate shills and nonsense.

  4. Stop paying your mortgage altogether! All people have to do is form groups and run on the banks if threatened with foreclosure! Watch my video!

  5. Gerri is such a shill for corporate banks.She has no crediability with me.

  6. Same here. She’s a book of misinformation. She is still at it Dont watch CNN or CNBC or any mainstream media for that matter.

  7. My lawyer said you better leave the property in good condition and take nothing out of the home. They can come after you for distroying something that doesn’t belong to you. If you owe money on the home, you do not own it, the bank owns it.

  8. If it’s your primary home, my CPA said there is nothing the bank can do and you will not have to pay taxes on it either.

  9. My stepson declared bankruptsy and within 3 years he was able to buy a home.

  10. true…i couldnt get more info b/c she kept interrupting.

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