What determines whether I receive a 1099-C or a deficiency judgment for the bank’s loss?

March 20th, 2010 by Jarad S.

Question: If a non-primary residence in NY goes into foreclosure, what determines whether I receive a 1099-C or a deficiency judgment for the bank’s loss?

Answer: -A lot of times it just depends on the lender and the amount that’s deficient.

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