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Old 10-24-2008, 11:22 AM
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Forclosure

What is the name of your state (only U.S. law)? Florida

I have a first and 2nd mortgage on my home. I am considering Forclosure. Will I be automatically responsable for the amount of the 2nd mortgage?

If I short sale, will I recieve a 1099 for the amount of the deficiency?
  #2  
Old 10-24-2008, 12:52 PM
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Join Date: May 2000
Location: Catatonic State
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Quote:
Originally Posted by Glynn Miller View Post
What is the name of your state (only U.S. law)? Florida

I have a first and 2nd mortgage on my home. I am considering Forclosure. Will I be automatically responsable for the amount of the 2nd mortgage?


**A: yes, that is generally the case.



##########

If I short sale, will I recieve a 1099 for the amount of the deficiency?


**A: see above.
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