Re: defiency judgment

Posted by NJDave on February 13, 2006 at 07:38:31:

In Reply to: defiency judgment posted by Debbie on February 12, 2006 at 22:27:55:

It is possible that the lender will file a separate suit to recover deficiency. It is just as likely the deficiency will be charged off, an IRS form 1099 issued to your brother, the deficiency amount taxable, and he'll have to deal with the IRS.

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: It is possible that the lender will file a separate suit to recover deficiency. It is just as likely the deficiency will be charged off, an IRS form 1099 issued to your brother, the deficiency amount taxable, and he'll have to deal with the IRS.


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