Do banks give 1099 for HAFA incentive?

I have a HAFA approved client and I want to know if my client will get a 1099 for the HAFA amount on top of a 1099 for the balance of the loan?

I've successfully closed out a previous HAFA file but it's too early to see what happens next.

Thanks!

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Replies to This Discussion

Permalink Reply by Tracey Martin on May 11, 2012 at 8:27am

My assumption is that the amount will be included on the 1099. The government is not going to give away money without taxing it. Have your client talk to a CPA. They are the experts in that kind of stuff.

Permalink Reply by Kim Martin on May 11, 2012 at 8:35am

Thanks Tracey! I appreciate your feedback.

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