Originally Posted by will76

That makes no sense what so ever. If the house is sold at a foreclosure sale for less than what you owe the bank then how in the hell are you going to get taxed for the difference that you are short? It isn't a capital gain, its a loss. If anything you would be writing off the difference depending on the situation, not paying more taxes for losing money.

The only "system" that is going to have you continue to pay after the foreclosure is when the property is sold for less than the amount you owe the bank, which is called a deficiency judgment. If you rip the shit out of the house then you just shooting yourself in the foot because by decreasing the value of the property it is going to sell for less and more you will owe. Now if you had a little equity in the property the person should have been looking to sell it or at worst do a short sale.



The moron was the person who paid 16K for a new refrigerator. Unless if it was a million dollar home there would have been other solutions for a fraction of that cost to put a new refrigerator in and make it work with the layout/ situation.