- Report: #704218
Complaint Review: MGC Mortgage - PlanoInternet Texas
Reported By:
johndh -
Houston, Texas, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
MGC Mortgage
7195 Dallas Pkwy PlanoInternet, 75024 Texas, United States of America
Phone:
877-471-7888
Web:
www.mgcmortgage.com
Categories:
Business Rating:
(0)
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MGC Mortgage MGC issued a 1099 on a foreclosed property for the full amount of the loan. PlanoInternet, Texas
After many attempts at trying to modify our mortgage with MGC with no success, MGC foreclosed on our property in Colorado. After they sold the property, they issued us a 1099 in the amount of the total balance on the note before it was sold. It was as if they recieved no money for the property. It is virtually impossible to speak with the same person 2 times on the phone. We find ourselves in position that we cannot file our income taxes. Has anyone had a similar experience or know an attorney that handles these types of issues?
1 Updates & Rebuttals
Susan
This City,Illinois,
USA
Easy
#2Consumer Comment
Tue, March 08, 2011
Call a tax attorney or real estate attorney. Odds are you do owe the tax on the fair market value at date of foreclosure.
It doesn't matter that they sold the house, You didn't own it at the time it was sold and they do not have pay your tax debt.
Someone has to pay and the person who created the debt should be it.
