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Short sale and reimbursement of relocation costs
We are in the process of selling our home, a short sale, after relocating to another part of the country 3 years ago. We have tried, unsuccessfully to sell and then rented it for a year and a half (that was a nightmare and was bleeding us financially to death). After a lot of work with the mortgage company we received approval for the short sale.
My question is, as part of my relocation package with my employer they will reimburse me the closings costs on the home (somewhere in the $6K range, I anticipate). Will I need to send this money to the mortgage company? I had assumed 'yes', but my Dad suggested that I seek a professional opinion before just signing over the check. I'd really like to keep the money to put towards an insane CC bill (because of the nightmare renters and trying to sell the house w/out short sale for so long). I don't know how the mortgage company would even know that I received this money, but I don't want to do anything illegal (and am very thankful that I have this option over foreclosure).
Whom should I consult, a lawyer or tax accountant? I want to seek advice outside of just calling the mortgage company.
Re: Short sale and reimbursement of relocation costs
"You know you're in love when you don't want to fall asleep because reality is finally better than your dreams." - Dr. Seuss