I thought I was alone in this...
I started my process of a short-sale with Ocwen in Oct. I had 2 real estate companies and multiple investors eager to sell/buy the property. The only probelm was Ocwen, they were not interested in accepting a short sale for the present market value. The property lost value between 2005 (when purchased) and 2006. I had extremely long hold times, constant change of contact persons handling my file and never a solid answer on my package. On 9/21 my property went to a sheriff sale. This came after finding three different buyers and getting denied three times. These buyers were all interested in paying present market value. On the day of the sheriff sale the property went back to the bank for $100 according to the foreclosure attorney. Now in February I am stuck with a 1099-C in the amount of $164k. The bank can not explain to me where they came up with this number and has not provided me with any details of a transaction that would explain that charge. What am I to do? I've never made that much money, now I have to pay taxes on it. I did everything I could to save my home from foreclosure and now this.
0 comments