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Buy Real Estate; Become a Real Estate Superstar!

Posted by attorney Richard Rydstrom

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WARNING: Real Estate Investors: Non-owner occupied investment real estate is generally not covered by the government modification programs such as HAMP and legislation covering exclusions from forgiveness of debt. Therefore, real estate investment property may cause taxation and deficiency liability for forgiveness of debt, short sales, deed in lieu of foreclosure (DIL), or foreclosure. The real estate investor should negotiate waiver of liability for any deficiency on all workouts. Taxation is more troublesome (See Reference to Taxation below).

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