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Debt Consolidation Forums Getting a loan or mortgage and avoid foreclosure forums

Settled 2nd mortgage - 1099-C shows FMV at $0, why?

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Last year I settled my 2nd mortgage. I received the 1099c. Why does the 1099C-C show the fair market value of my home as $0? My home isn't worth what it once was but it still is worth more than $0.




I think you have to contact the IRS department regarding this matter. It seems they have done some mistake.

Sub: #1 posted on Mon, 02/07/2011 - 23:26

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You have received the 1099c form because a portion of your second mortgage was forgiven by your lender. I will suggest you to contact your second mortgage lender and sort out the matter with him. You may even contact a tax adviser and take his help in this matter.

Sub: #2 posted on Thu, 02/10/2011 - 02:08

Anna Sweeting Anna Sweeting

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