1099-A . I'm a Canadian who had 2 rental condos in Nevada, Foreclosed by GMAC in Jan 2010. I have just received 4 (1099-A) 2 in my name and 2 in wife's name from GMAC for the same properties.We are joint tenants. What is our tax obligation and is there an exemption form for non-resident?

The 1099-A is generally sent to you for your information purposes only - if you actually needed to report any income due to the foregiveness of the loan they would send you a 1099-C. But to be sure: if the amount shown in box 2 (principal of the loan outstanding) is LESS than box 4 (fair market value of the property), then in essence you sold your property to the bank for less than it was worth, and there is nothing to report with respect to foregiveness of the loan. However, given that these were rental properties, and assuming that you may have been taking depreciation on them over the years, it's possible that you may have a capital gain to report for this "sale."

The form states box2 over $100,000.00 and box 4 roughly $50,000.00. So what does this mean. Very hard to find info. So thanks for your help

Normally I would expect the lender to issue you a 1099-C, as they definitely cancelled debt ($100K loan was settled by foreclosing on a property worth only $50K). However, if you declared bankruptcy or insolvency the foregiveness of the loan is not taxable. Further, because this was a business property there are complications over how to report the foreclosure that will come into play. You should read pub 4681for details:
http://www.irs.gov/pub/irs-pdf/p4681.pdf

Thanks for your help. Our CDA account has someone in the US he's forwarding. I feel sorry for US residents having to go through this after lossing there homes (doesn't seem right)

Actually through 2012 most US residents who lose their primary homes to foreclosure don't have to pay taxes on the debt foregiveness (unless it's more than $2 million). But those who lose a second home or have other types of debt foregiven - like cedit cards or business debt - do, unless they have declared bankruptcy.

I think using a professional on this is indeed a wide move.