Question: WHAT IS WORSE A DEFICIENCY JUDGMENT OR A 1099 IN THE AMOUNT OF $120,000.00
Answer: -Most homeowners would take the 1099 over a deficiency judgment because in most cases you can counter the 1099 with IRS form 982. Talk to your accountant because you may not have to pay a dime.
Tags: 1099, deficiency judgment, IRS form 982
Have a question that hasn't been answered here? Send the question to us by clicking here.
Discover The Most Complete Hands Off Data Management Application Designed To Have You Cashing More Paychecks In More Markets AUTOMATICALLY
>> Watch Video Now <<
Learn why Now is the Best Time In Years to Get Into Real Estate... No Money? No Credit? No Problem. Learn the Proper way to Invest in Any Market.
Sign up for the Newsletter! »
I just wanted to drop a quick email to let
you folks know that after purchasing your Foreclosure course I am half
way through the information and I am overwhelmed with excitement. You guys
have made everything so simple that it's almost a joke! I promise
to email you with the results and laugh about how really easy it
was. Gratefully yours,
G Bologna, NY
© 2001-2011 Foreclosure University. All rights reserved.