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Old 02-19-2011, 01:32 PM
krb krb is offline
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Join Date: Feb 2011
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Default Can Fanny Mae (the investor) come after me if
the mtg. co 1099A the foreclosure on my rental property? My rental property was foreclosed on by bank & was sold for approx $27,000. I owe $63,000 on the 1st mtg & $10,000 on the 2nd. I received a 1099A from the bank I had the 1st mtg. with for $63,000 "IRS phantom income" I will have to pay taxes on. I later learned Fanny Mae is the investor. Can Fanny Mae still take legal action against me?
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