My question involves a foreclosure in the State of: New York.
An investment property of mine unfortunately foreclosed in October 2007 after I became behind on payments. It was an 80/20 and the second mortgage was sold to a collection agency. I know I am still liable for the second mortgage, but I never received a 1099 for the first after the auction? What does this mean, and what do I do? Is it possible that the bank reported this to the IRS and not me?? How do I proceed?