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Message Subject Help with Legal Advice Please! Bank Foreclosures going after owners for tax discrepancy in the value of original loan verses auction sale price.
Poster Handle Anonymous Coward
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Yeah that happens - people need to ask the bank for "paid in fill" if they cooperate with the foreclosure

And by the way- if the bank forgives the debt left over- they send a 1099 to the IRS as it is TAXED as current INCOME
 
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