Video-Andrew’s take of 1099C and Deficiency Judgments

Deficiency Judgements from Coastal Mitigation Partners on Vimeo.

Andrew Weitz does a great job of explaining deficiency judgments and 1099C. He brings up important points that private mortgage insurance companies can often step in and ask for a “Soft” unsecured promissory note in order for them to approve a short sale. If you are considering a bankruptcy you might hold off until the short sale is approved, completed and funded. If there is a promissory note issued at time of approval drop it into the bankruptcy.

DISCLAIMER: Please consult a legal professional regarding this matter as my focus is on guiding northwest homeowners thru the short sale process and help de-leverage them.

We are rolling out with another “Talking” E book regarding the impact of 1099C written by a licensed CPA with videos comments from Coastal Mitigation Partners coming out soon!!