Any benefits to selling my house for less than I owe. I will settle my remaining debt with the bank?

Question

I am not selling my house in a short sale. I am going to take large loss but plan on settling my debt with the bank at the time of sale. Are there any tax or other financial benefits i can take advantage of during this sale?

Answer

A major benefit of selling a home lies in being able to profit from it.   If you have given away or sold assets for greater than their value  then you gain money for your other expenses. Ask larryadebesin.com for more!

Answer

I think you need to ask for any financial advice expertise, Even though bankruptcy is always a personal choice, do not file without checking out all other options. Also keep in mind many debt counselling companies are scams that can get you further into debt. Keep in mind the tips from this article, so that you can make smart financial decisions and prevent debt in the future.

Answer

There is no point making arrangements to pay one of your creditors without dealing with all the other debts you have too.

Any benefits to selling my house for less than I owe. I will settle my remaining debt with the bank?

Answers (3)