We are in a situation out of our control. We had a forclosure do to the drop in market. We tried to short sale only to be denied after 6 months by the lender. There was a 2nd mortgage on the property. This whole process took place in 2005. Then in 2007 the 2nd wrote a cancellation of debt and then 1099 C us in 2010. We submitted the 1099 C with our 2010 taxes and paid taxes on it. Now they are reporting that we still owe the debt on our credit. Is this possible? Or does the 2nd fall with in the Obama plan?
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.We Got a 1099-C Five Years After We Lost Our House. - Eva by Steve Rhode