Posted by NJD on July 01, 2009 at 15:59:30:

In Reply to: Re: Need information posted by NJD on July 01, 2009 at 15:57:33:

The lender may forgive the difference between what is owed and what it agrees to accept to release the lien, and then issue you an IRS form 1099C. You may or may not have exposure to a tax liability.

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