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Posted by Bill H on December 24, 2006 at 14:24:04:
In Reply to: 1099 posted by Amani on December 24, 2006 at 12:32:15:
The number of years in residence is irrevelant to the IRS when you do a short sale. They are only interested in the fact that you got "Mortgage Relief"...did not pay the full mortgage off...and how much that was.
Yes, you may well receive a 1099 from the lender as a result of the short sale.
Good Luck,
Bill H
