Legal Question in Credit and Debt Law in Florida

If my mortgage company has gotten a summary judgment against me for a foreclosure, are they able to 1099 me for the amount as well?


Asked on 2/04/13, 9:47 am

1 Answer from Attorneys
Stephen Orchard Law Offices of Stephen Orchard

It's possible, depending upon what they do with any remaining debt. Assuming they sell your property for much less than you owe, then yes the lender can 1099 you if they forgive the remaining debt. However, your mortgage lender is equally entitled to pursue a deficiency judgment against you for the remaining balance. I suggest that you speak with a bankruptcy attorney and discuss your options. Bankruptcy or a short sale may be a better option. Best of luck.

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Answered on 2/04/13, 9:54 am


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