Foreclosure is something that nobody ever wants to face. They do not want to register their permanent record and they do not want the embarrassment that accompanies the loss of their homes. A foreclosure can remain on your record list as seven years. It makes it almost impossible for a mortgage in the future. Although armor issue is poor, many people are so far behind on their mortgage, they are ready to support them. They just want to leave the house, moving to a nice apartment and behind them. The psychological burden off their shoulders feel good. Although it may help some people make a fresh start, you may be surprised to learn that the shield comes with a bill.Why significant tax you must pay taxes on a foreclosure? Here are a few things to think about treating seizures and taxes.