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Andrea, Esq.
Andrea, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 12554
Experience:  I have practiced law for 25 yrs. with an emphasis on real estate, business law, criminal defense and family law.
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in 2010 my wife and i spit she short sold the house the first

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in 2010 my wife and i spit she short sold the house the first mortgage was paid and the second ended up short. the second wrote the loan off as a bad debt and 1099 us for the rest.
In maryland there is a 3 year limit for suite with them 1099 us can they still sue for the rest?

Hi, My name is XXXXX XXXXX I will be glad to assist you with your question



1. Did you get any approval from the second mortgagee for the short sale ?

2. Was the second mortgagee paid anything on the loan, or did they issue a 1099 for the entire amount of the loan ?

Customer: replied 4 years ago.

yes they agreed to the amount and released the house to sell but left open the option to collect.

they received some not sure the amount.

Hi, Jim,



When a lender issues a 1099 to a borrower as they did in your situation, the lender does not sue the borrowers for a deficiency judgment and neither does a collection agency to which the lender may have sold the account,





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