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Old 03-11-2015, 05:16 PM
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Join Date: Mar 2015
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1099c

Hello,

I had a foreclosure in 2012. At the sheriff sale the home sold for 94,000.00 and I had a balance of 256,000.00. I received a 1099a but never a 1099c.

My question is now that the Mortgage Forgiveness act is over, if I receive a 1099c I will be taxed on the forgiven amount. I'm retired and do not have the resources to pay. Can I file bankruptcy on the balance? My credit score even with the foreclosure is over 760 but as stated I cant afford the tax liability.

Thanks for any suggestions.



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