HAFA Short Sale & 1099C

**Brandysj201** · 04-26-2012, 01:10 PM

I have asked my RE agent about this but she did not have a clear answer for me.(I am beginning to think she doesnt know anything more than I do with this entire process and she is supposed to be the one with all the experience).

I have left a message with my BOA negotiator, so I will call her again tomorrow for clarification but in the meantime maybe someone can tell me your experience-

We are waiting on closing on our HAFA Short Sale(received final approval from BOA). I have been reading and reading about the issuance of a 1099C and the Debt Forgiveness Act. My question is-will BOA still issue a 1099C in a HAFA short sale since they are forgiving all of the deficiency?

Thanks

**Evan Bedard** · 04-26-2012, 03:16 PM

Originally Posted by Brandysj201

I have asked my RE agent about this but she did not have a clear answer for me.(I am beginning to think she doesnt know anything more than I do with this entire process and she is supposed to be the one with all the experience).

I have left a message with my BOA negotiator, so I will call her again tomorrow for clarification but in the meantime maybe someone can tell me your experience-

We are waiting on closing on our HAFA Short Sale(received final approval from BOA). I have been reading and reading about the issuance of a 1099C and the Debt Forgiveness Act. My question is-will BOA still issue a 1099C in a HAFA short sale since they are forgiving all of the deficiency?

Thanks

Even though it is an HAFA short sale the lender will still issue a 1099 for the deficiency..