http://www.jjrealestatebg.com/usa-real-estate/rental-going-into-foreclosure-will-they-come-after-my-wages-or-will-i-be-taxed Pure Real Estate Fri, 27 Mar 2009 10:53:13 +0000 hourly 1 http://wordpress.org/?v=3.0.3 http://www.jjrealestatebg.com/usa-real-estate/rental-going-into-foreclosure-will-they-come-after-my-wages-or-will-i-be-taxed/comment-page-1#comment-886 ArLorax Wed, 14 Jan 2009 21:06:19 +0000 http://www.jjrealestatebg.com/usa-real-estate/rental-going-into-foreclosure-will-they-come-after-my-wages-or-will-i-be-taxed#comment-886 You can do the 1099 for the difference between the foreclosure and resale amount versus what you owe, but the difference can be substantial because foreclosure is expensive. If the amount is a substantial difference, they can still pursue you in court and attach your wages as they will want a lien against you for the remaining balance. Also, this will wreck your credit, so try to get the house sold if possible and avoid the foreclosure on your CBR and the foreclosure costs. You can do the 1099 for the difference between the foreclosure and resale amount versus what you owe, but the difference can be substantial because foreclosure is expensive. If the amount is a substantial difference, they can still pursue you in court and attach your wages as they will want a lien against you for the remaining balance. Also, this will wreck your credit, so try to get the house sold if possible and avoid the foreclosure on your CBR and the foreclosure costs.

]]> http://www.jjrealestatebg.com/usa-real-estate/rental-going-into-foreclosure-will-they-come-after-my-wages-or-will-i-be-taxed/comment-page-1#comment-885 oskarmyloanguy.com Tue, 13 Jan 2009 08:57:07 +0000 http://www.jjrealestatebg.com/usa-real-estate/rental-going-into-foreclosure-will-they-come-after-my-wages-or-will-i-be-taxed#comment-885 1099 at the end of the year for the diference of what you owe and what the bank forecloses on. 1099 at the end of the year for the diference of what you owe and what the bank forecloses on.

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