The bank will have 0 balances on all of your escrows at the time of closing. You should know when you do a short sale the $$$ that is forgiven to you, from the bank you will have to claim next tax season. Ex. If the bank forgives 50,000.00 the IRS is looking at that as taxable income to you. Talk to your accountant and make sure you understand that.....and prepare for that next tax season.
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