Posted on: 06th Jun, 2010 11:42 am
I received a 1099a showing balance of $660,000. FMV 694,452.83. The house sold at auction for $402,000. How long does the lender have to submit 1099c or to bill me for deficiency? I filed 1099a with 2009 taxes. How long do I have to file insolvency or other forms.
Welcome jimnsuehawkins,
As far as I know, the Statute of Limitations regarding claiming the deficient judgment varies from state to state. You can contact an attorney of your state and he will let you know the time period till which the lender will be able to come after you for the balance dues.
As far as I know, the Statute of Limitations regarding claiming the deficient judgment varies from state to state. You can contact an attorney of your state and he will let you know the time period till which the lender will be able to come after you for the balance dues.