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Old 02-08-2010, 05:56 PM
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Join Date: Jan 2010
Posts: 4
foreclosure

If you treat a foreclosure as an exchange. Do you use the fair market value to calculate losses or out of pocket expenses minus the construction loan? For example

Const. loan $250,000.00
Actual cost $300,000.00
FMV less commission $325,000.00

I guess this could used the other way too. Short sales, upside down mortgages etc.


Last edited by doubleddd2360 : 02-08-2010 at 06:16 PM. Reason: wanted to show example


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