Thread: 1099c
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Old 09-30-2009, 05:05 PM   #3 (permalink)
Enough Already
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Re: 1099c
ORNV3,

I just Googled it and it looks like the 1099 c is cancellation of debt which is covered by the Mortgage Forgiveness Debt Relief Act of 2007. I think this is good news! Here's a link to the info I found on the IRS website: Home Foreclosure and Debt Cancellation

If I understand it correctly, if they've issued you a 1099 C it looks like you're off the hook for the deficiency (fingers crossed)!!

Let me know what you find out.

EA
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