Here's the million dollar question. If u used wilshire, your house foreclosed, was sold by bank for much less than you owed on mortgage... When the bank sends you a 1099 c form and you are expected to pay taxes on. That, what happens then;? Has anyone done what wilshire advises and filled out their 1099? Which, supposedly transfers the liability to them... Otherwise, you would be expected to pay a fortune to the IRS... Many thanks!