Ask Experts Questions for FREE Help !
Ask
    badflordiadeal's Avatar
    badflordiadeal Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jan 31, 2010, 02:17 PM
    Does a 1099 A for a foreclosure state the debt is cancelled, loan was recourse
    Foreclosure 1099"s
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #2

    Jan 31, 2010, 02:18 PM

    No, it merely shows it was wrote off for tax purposes.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Any breaks on 1099-C for cancelled debt? [ 2 Answers ]

We have a couple 1099-c's from settling with creditors (credit cards). My husband thought he heard that there might be a break on those because there are so many people settling with creditors right now. Do you know anything about this?

Recourse vs. Non-recourse loan foreclosure short sale [ 1 Answers ]

Hi all, I am in a pretty bad situation and need some help/advise. I live in California, and purchased the house I am currently living in 2 years ago. Now my first loan (460K) is adjusting from 5.25% to 8.5%, which means an increase of $1200 in montly payment that I can no longer afford. I still owe...

View more questions Search