I had a mortgage and an equity loan on my house. I sold my house for less than what I had to banks.?

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My first mortgage and repayment of the loan to equity, I paid some money, and they closed the account. I need to know how I file my taxes. The accountant told me that I have a 1099C form and the bank is that the 1098 I

9 Comments
  1. Reply
    William
    May 14, 2011 at 2:47 am

    Have you ASKED the HELOC lender?

  2. Reply
    Wayne Z
    May 14, 2011 at 2:54 am

    A 1099C is only issued after the balance on the loan is forgiven.

    It may show up years later and not necessarily in the year that the house was sold.

    I agree that you should call the bank and see what happened to the balance owed.

  3. Reply
    Abul Zeon
    May 14, 2011 at 3:48 am

    we single,can,t marriege a not homestay

  4. Reply
    BIGG AL
    May 14, 2011 at 4:19 am

    Wayne Z is absolutey correct.

  5. Reply
    Nerves
    May 14, 2011 at 4:29 am

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    May 14, 2011 at 5:09 am

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