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Ocwen Mortage Beware of Modification 1099-C form to Follow and not a word mention in Agreement west palm beach, Florida
30th of Mar, 2012 by User102931
We had applied for a modification thru our mortage company. We got accepted and and received the paper work stating what our orginal principal balance was, and what the new balance would be. The differnce was like around 41,000, but at the end of our term we had a Ballon payment in the year 2037,but no amount was on there. So when I called they gave me the run around stating at the end of the term we would know the amount after paying our mortage. So I received in the mail a 1099-C form, that is a debt cancelled, so I will have to report it to the IRS. So I called back and they are telling me that is not going to be balloon payment at the end. Nothing was ever said about a 1099-c form and i had spoken to accountant and when he read our agreement he said that it seems to him they are double dipping because of the balloon payment. I dont know where to go.
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