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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?


To: MSI who wrote (1169)12/11/2001 2:31:53 PM
From: patron_anejo_por_favorRead Replies (1) | Respond to of 306849
 
OUCH, OUCH, OUCH!

Sad story...predatory lenders are scumbags. We certainly agree on that!



To: MSI who wrote (1169)12/13/2001 11:42:43 AM
From: Skeeter BugRead Replies (1) | Respond to of 306849
 
>>$350k profit, bought another for 1/2 that, plus a car, free of debt, he thought<<

so he had $175k taxable income, right? couldn't he use his one time exclusion for selling a home?

anyway, that must have been a helluva ride to burn up enough of that $175k profit to not be able to pay the taxes...



To: MSI who wrote (1169)12/13/2001 11:49:10 AM
From: Skeeter BugRespond to of 306849
 
>>$350k profit, bought another for 1/2 that, plus a car, free of debt, he thought<<

so he had $175k taxable income, right? couldn't he use his one time exclusion for selling a home?

anyway, that must have been a helluva ride to burn up enough of that $175k profit to not be able to pay the taxes...