Photo by woodleywonderworksDue to the housing sector collapse there are an increasing number of homeowners who are losing their homes in foreclosure. Notwithstanding all the financial problems that have hit them in the recent past they also have complicate taxation issues to grapple with.
For the purposes of tax, a foreclosure is equivalent to a sale. [...]

Buying a property through a short sale or foreclosure is a great way to save some money on real estate. You can sometimes get a house that is listed at much lower than the original home value. In this case, you can live in the house or sell it later for a nice profit. While [...]