Pacun Posted February 21, 2011 Report Share Posted February 21, 2011 Client is renting 50% percent of principal residence. They were not paying and were trying to have the bank reduce the interest and/or reduce the price of the house to current FMV. Everything failed and the bank issued a 1099-A. Clients seeks relief from court and are now making payments to the court and they are trying to negociate with bank with the help of the court. Clients received 1099-A in October 2010 but they never left the house and they must make 6 bigger payments to the court and they court is sending payments to the bank. Is the house still theirs? They claim yes, but usually when a 1099-A is issued the bank is the owner. Quote Link to comment Share on other sites More sharing options...
jainen Posted February 21, 2011 Report Share Posted February 21, 2011 >> Is the house still theirs?<< Maybe they are buying it back, or renting, or the court reversed the transfer, or the bank was bluffing. All sorts of things are possible when bank lawyers get on to something. Call the County Assessor and ask who owns that parcel number. Quote Link to comment Share on other sites More sharing options...
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