RoJane Maybee's Blog (1)
1099 and Full Waiver of Deficiency
If you receive an approval letter stating the following -- will you still be 1099'd as income on the it:
Upon receipt of the agreed amount, BAC Loan Servicing and/or its investors will waive the remaining balance due on the above referenced loan and release the borrower from further obligagion therein, and waive all rights to pursue further judgment or deficiency.
Added by RoJane Maybee on September 26, 2011 at 10:53am — 2 Comments
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