I use my first house to buy a big house and I couldn't make the payments now they will settle for less am I going have to claim the write off my taxes since I used it to buy a new primary house
If your lender has agreed to get accept less than the actual amount, then the amount of principal that you've saved must be claimed at the time of filing your tax returns.
If your lender has agreed to get accept less than the actual amount, then the amount of principal that you've saved must be claimed at the time of filing your tax returns.