Comments on: IRS Says Foreclosure Tax Relief Available To Many http://housingdoom.com/2007/09/19/irs-offers-foreclosure-tax-relief/ Sat, 11 Feb 2012 07:12:54 +0000 hourly 1 http://wordpress.org/?v= By: JimAtLaw http://housingdoom.com/2007/09/19/irs-offers-foreclosure-tax-relief/#comment-7720 JimAtLaw Thu, 20 Sep 2007 15:57:52 +0000 http://housingdoom.com/2007/09/19/irs-offers-foreclosure-tax-relief/#comment-7720 Interesting - if you did a cash back deal, or otherwise got upside-down, and the bank determines the house is actually worth less than owed on foreclosure, you're supposed to get a 1099-C! I thought I had heard this only happened in short sales, not foreclosures, but here it is from the horse's mouth. Interesting – if you did a cash back deal, or otherwise got upside-down, and the bank determines the house is actually worth less than owed on foreclosure, you’re supposed to get a 1099-C! I thought I had heard this only happened in short sales, not foreclosures, but here it is from the horse’s mouth.

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