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Old 02-04-2008, 10:12 AM
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Can bank still sue after issuing a 1099-A

What is the name of your state? NY

I received a 1099-A due to a house foreclosure in 2007. 1099-A shows outstanding bal. is 319K and FMV is 404K. My question is this: If I received a 1099-A, does that mean the bank can still sue me for the outstanding debt? Or does it mean that they will not pursue that debt?
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Old 02-04-2008, 11:11 AM
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Yes, they can continue to go after the debt. Probably, they will sell the debt to another who will try to collect it. You still owe the money, per all of the other threads you have opened on the subject.
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