Megan McGinnis' Blog–Get Connected!

2 Responses to “1099 Forms Issued on Principal Reduction Programs?”

1. 
   Julian Gonzalez Says:
   15. December 2009 at 11:19 pm

   Hi Megan,

   This program is great! No tax implications makes it even better. I think you really need to get the word out on this. Even with the new Fannie Mae DU refi plus program (125% LTV) out there, I think this is a viable option either before considering the refi. Keep up the good work!

   Thanks,
   Julian Gonzalez
   http://www.julesgonzalez.com
   Julian Gonzalez´s last blog ..Staying Focused

2. 
   Angella Raisian Says:
   1. January 2010 at 3:56 pm

   Issuing 1099 forms to those in foreclosure and bankruptcy is unrealistic. Nor can these people afford it.

   As far as I know, ever since the recession of 1994, when I got my RE Broker’s license, nobody every paid on a 1099 issued due to a foreclosure. Ever! Not owner occupied homes, and not investment properties.

   Does anyone know of a person that was forced to pay on a 1099 issued by the bank due to a Short Sale or a Foreclosure?

   Angella Raisian @ http://AngellaRaisian.com
   Angella Raisian´s last blog ..Top 10 Real Estate Trainers on Twitter

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