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What Does a 1099-A Mean After a Foreclosure?

What Does a 1099-A Mean After a Foreclosure?

What Does a 1099-A Mean After a Foreclosure?. If your mortgage loan becomes delinquent and you do not work with your lender to bring the account current, the lender may initiate foreclosure proceedings. In a foreclosure, the lender sells your home to recover some or all of the amount due under your mortgage loan. After foreclosure, you may receive a copy of form 1099-A, which is an informational reporting form mandated by the Internal Revenue Service.
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