My New Blog Have you received form 1099-C from your lender yet? March 14th, 2011 3:32 PM Lenders who write off unpaid mortgage balances are required to mail out form 1099 C. If you've had mortgage debt cancelled due to loan modifications or short sales or foreclosures but have never received a 1099-C from your lender, get in touch and request if to avoid federal tax hassles. Per the IRS Mortgage Forgiveness and Debt Cancellation Act of 2007 – You do not have to report it as income. However, you must report it on Form 982.  Review IRS Publication 4681 for additional filing details.  As always - consult with your accountant for further advise. Posted by Sam Kader on March 14th, 2011 3:32 PMPost a Comment (0) Subscribe to this blog * Name: * Email Address: URL: Comment: Type the characters you see in this picture, click "Submit" when finished.   This helps us prevent automated programs from posting comments and sending spam. * Name: * Email Address: Address: City: State: Zip:   This helps us prevent automated programs from creating bogus contacts and adding them to your contacts database.

Recent Posts: New FHA Streamlined Refinance 2012 FHA increases mortgage fees. HARP 2 Foreclosure Settlement. Buying FHA after a short sale. Archive: July 2007 Seattle Freeze is on. Posted by Sam Kader on July 20th, 2007 9:30 AM Useful websites. Posted by Sam Kader on July 12th, 2007 8:43 PM It's a summer time. Prevent your home from burglaries. Posted by Sam Kader on July 9th, 2007 8:57 PM Financial Information. Posted by Sam Kader on July 9th, 2007 8:37 PM February 2012 Deed-in-lieu-of-foreclosure Vs. Short-sale Vs. Foreclose. Posted by Sam Kader on February 9th, 2012 4:57 PM January 2012 Forbearance for Unemployed homeowners. Posted by Sam Kader on January 29th, 2012 6:23 PM November 2011 Appraisal Posted by Sam Kader on November 26th, 2011 3:51 PM Shop for Loan Originators' expertiese not rates. Posted by Sam Kader on November 12th, 2011 5:11 PM October 2011 House Buying Tips. Posted by Sam Kader on October 9th, 2011 7:46 PM September 2011 Refinancing. But wait, there's more. Posted by Sam Kader on September 1st, 2011 3:07 PM August 2011 Loan lock process. Posted by Sam Kader on August 31st, 2011 3:49 PM Home buying do's and don't. Posted by Sam Kader on August 28th, 2011 12:39 PM Self Employed 101. Posted by Sam Kader on August 9th, 2011 3:44 PM Tips of protecting online privacy. Posted by Sam Kader on August 7th, 2011 4:12 PM May 2011 What to do when a tree falls down. Posted by Sam Kader on May 26th, 2011 10:42 PM April 2011 Appealing assessment on Property Taxes. Posted by Sam Kader on April 26th, 2011 8:44 AM March 2011 Have you received form 1099-C from your lender yet? Posted by Sam Kader on March 14th, 2011 3:32 PM February 2011 Proposal for Fannie and Freddie. Posted by Sam Kader on February 15th, 2011 12:07 PM Negative Equity Posted by Sam Kader on February 10th, 2011 7:51 AM December 2010 New credit disclosure starting in January 2011. Posted by Sam Kader on December 21st, 2010 8:51 AM Buyer's Market Posted by Sam Kader on December 1st, 2010 10:10 PM September 2010 How to increase your home value. Posted by Sam Kader on September 6th, 2010 8:54 AM August 2010 Are you qualified for a refinancing? Posted by Sam Kader on August 3rd, 2010 11:47 AM June 2010 What? Rates are dropping again? Posted by Sam Kader on June 29th, 2010 11:34 AM Home Inspection. Posted by Sam Kader on June 9th, 2010 8:22 AM May 2010 Tax Benefits from Rental Property. Posted by Sam Kader on May 31st, 2010 12:49 PM Home Title Posted by Sam Kader on May 29th, 2010 8:43 PM March 2010 Changes to FHA Policies. Posted by Sam Kader on March 27th, 2010 11:53 PM February 2010 Home Affordable Refinance Program. Posted by Sam Kader on February 21st, 2010 9:41 AM FHA Updates. Posted by Sam Kader on February 13th, 2010 11:01 AM Home Buyers Tax Credit only through 4/30/2010. Posted by Sam Kader on February 13th, 2010 9:49 AM January 2010 Fed Holds Steady on Rates. Posted by Sam Kader on January 30th, 2010 12:37 PM King and Pierce County Sales Data Posted by Sam Kader on January 7th, 2010 8:58 PM December 2009 Are you Ready To Buy Yet? Posted by Sam Kader on December 3rd, 2009 9:40 AM November 2009 Plan your ARM Resets. Posted by Sam Kader on November 8th, 2009 8:09 AM August 2009 Don't Miss the Train. Posted by Sam Kader on August 29th, 2009 11:56 AM Fico Score Posted by Sam Kader on August 23rd, 2009 10:50 AM July 2009 July 31 2009 - HEPA Posted by Sam Kader on July 19th, 2009 7:04 PM April 2009 Tips in facing Foreclosure. Posted by Sam Kader on April 28th, 2009 7:52 AM Tips for Successful Short Sale Posted by Sam Kader on April 26th, 2009 9:04 AM March 2009 Becoming a landlord. Posted by Sam Kader on March 22nd, 2009 3:02 PM The Homeowner Affordability and Stability Plan (HASP) - Signed on 2/18/09. Revised 6/09 Posted by Sam Kader on March 4th, 2009 11:21 AM January 2009 Amended Housing Tax Credit of $8,000. Posted by Sam Kader on January 26th, 2009 1:23 PM What to do about Refinancing? Posted by Sam Kader on January 24th, 2009 8:56 PM Foreclosure Rescue Scam. Posted by Sam Kader on January 19th, 2009 8:16 PM Budgeting 101 and Credit Card Debt. Posted by Sam Kader on January 11th, 2009 11:21 PM December 2008 FHA Mortgages. Posted by Sam Kader on December 20th, 2008 7:25 PM New Jumbo Conforming Loan Limit. Posted by Sam Kader on December 18th, 2008 5:16 PM Loan Modification. Posted by Sam Kader on December 16th, 2008 11:34 PM November 2008 Recession Proof Jobs. Posted by Sam Kader on November 7th, 2008 9:11 AM October 2008 Bank of America/ Countrywide - Settlement with Attorney General. Posted by Sam Kader on October 13th, 2008 10:47 AM How it all began. Posted by Sam Kader on October 11th, 2008 11:37 PM Deals on FORECLOSURES. Posted by Sam Kader on October 5th, 2008 8:50 AM September 2008 Rates are lower again? Posted by Sam Kader on September 14th, 2008 9:01 AM August 2008 Housing Tax Credit - $7,500 and Hope For Homeowners. Posted by Sam Kader on August 30th, 2008 11:10 AM Mortgage Insurance does not have to be forever. Posted by Sam Kader on August 5th, 2008 11:15 PM July 2008 Mortgage New Rules Post Subprime Era. Posted by Sam Kader on July 20th, 2008 2:21 PM June 2008 Lenders Default and Mortgage Brokers uncertainty post subprime market. Posted by Sam Kader on June 7th, 2008 12:37 PM May 2008 Mortgage Lates, Foreclosure and Short-Sale. Posted by Sam Kader on May 31st, 2008 3:40 PM March 2008 HUD proposed mortgage overhaul. Posted by Sam Kader on March 30th, 2008 10:37 AM How to handle debt collectors. Posted by Sam Kader on March 10th, 2008 12:29 AM HUD releases new Loan Limits. Posted by Sam Kader on March 6th, 2008 2:47 PM February 2008 Identity Theft and Credit Freeze Posted by Sam Kader on February 6th, 2008 10:02 PM Fed funds rate, homeowner tax breaks, Seattle mortgage break and short sales. Posted by Sam Kader on February 4th, 2008 8:09 PM January 2008 Mortgage Freeze at 888-995-HOPE Posted by Sam Kader on January 15th, 2008 10:10 PM December 2007 Tips for selling a house in a tight market. Posted by Sam Kader on December 15th, 2007 7:52 PM October 2007 De-Mystifying ARM Adjustment. Posted by Sam Kader on October 7th, 2007 12:19 PM September 2007 Mortgage rates are not correlated with Fed Funds. Posted by Sam Kader on September 22nd, 2007 3:41 PM Fed offers mortgage bailout. Posted by Sam Kader on September 17th, 2007 11:33 PM Title Insurance. Posted by Sam Kader on September 13th, 2007 9:24 PM August 2007 Scam Alert.. Posted by Sam Kader on August 23rd, 2007 6:34 PM Seattle home prices defy logic. 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