Tag Archives: 1099C
Can Filing Bankruptcy Protect Me From A 1099-C Tax Obligation?
We received another great listener question. The simple answer is yes, filing bankruptcy before a foreclosure sale or short sale will protect you from a subsequent 1099-C assuming the bank waives any deficiency. Before we get there, however, some background: When someone gets foreclosed or completes a short sale, there are one of three… Read More »
Top Myths About Home Equity Lines Of Credit
Home Equity Lines of Credit (HELOC) are useful for: (1) avoiding mortgage insurance, (2) paying for improvements to the property, and (3) paying down car loans, credit card bills, medical debt or other debt. We often hear these three myths when consulting with clients who have a HELOC. Myth #1 – A HELOC is… Read More »
