Waiver of Deficiency

Waiver of Deficiency and the Mortgage Forgiveness Tax Threat Many a lawyer or realtor will tell a would-be client that they’ll negotiate a short-sale approval that includes a waiver of deficiency. A waiver of deficiency is the difference between what the borrower owes and what the bank would sell the property for at auction. They’ll caution that the tax exemption for amounts forgiven by the banks expired in 2013 Read More