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Foreclosure in 32246 : Real Estate Advice

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Activity 2
Tue Feb 14, 2017
Jonathan Klurfeld, Esq. answered:
It's a 1099C, not 1095, and the lender sends it to you (or may not). It is not something you can just get online or something. It is much to your benefit if they elect not to send you one as that is possibly tens of thousands of extra income to you and will bump you to a much higher tax bracket paying more in taxes.

Disclaimer: I am a Florida attorney and licensed Realtor. Information posted or made available on or through this site is not intended as legal advice or to create an attorney-client relationship between you and any attorney/our firm until officially retained. You should consult an attorney for advice regarding your individual situation since every case is different and not all information is relayed in an online question.
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Wed Apr 25, 2012
Irina Karan answered:
Hello Kathy,

I agree with Jeff and George...It takes time to prepare credit wise (credit re-establishment is very important in this case) and asset wise. Makes sense to go see a reputable mortgage person to see what budgeting you'll need to do to prepare for downpayment, closing costs, home inspections, home/flood insurance costs, having reserves after the closing. There are great books on re-establishing your credit - on how to open new credit cards, like secured cards that get reported to the credit bureaus etc.

Best of luck to you,

Irina Karan
Beachfront Realty, Inc.
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