Posted on: 06th Aug, 2010 05:01 pm
if the bank does a 1099, can they still come after me for the deficient balance?....
Hi sebastian,
If the bank issues a 1099c, then the lender won't come after you for the deficient balance resulting from the sale of the property. The lender will issue this form when he forgives the balance dues.
If the bank issues a 1099c, then the lender won't come after you for the deficient balance resulting from the sale of the property. The lender will issue this form when he forgives the balance dues.