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Updated almost 15 years ago,
Short sale question
Hi
If the lender has approved a short sale and has indicated it will issue a discharge of mortgage to the borrowers, release the 1st lien position the lender currently holds, and will issue a 1099C, does that mean that they will not be pursuing a deficiency judgement? Seems like they can't issue a 1099 for forgiven debt amount otherwise, does that seem right?
Thanks for any insights