Currently in BK7, and have a hearing in two weeks on Motion to Lift Stay. I received a 1099 from the lender for "Acquisition or Abandonment" of secured property. What is that? It doesn't sound nice at all - have they taken some actions I was unaware of?
The 'acquision' was dated in August '05 while I was discussing a loan modification with them...they never replied on that, so if bk'd in Oct. to prevent the foreclosure. They have since provided the amount I need to bring loan current..can someone explain? Thanks.