When do they come after you for the difference?

[lovemybugs10]

if you don't file bk? House is in Kentucky. Conventional loan. We owed 211, auctioned off for 165.

[feelingnutsy]

Sounds like you'll get a 1099 at the end of the year---or in early 2011.

[lovemybugs10]

They wont sue me for the difference?

Wasn't there something that started with Bush that Obama re-upped that said when it's foreclosed or short sale, the difference didn't have to be counted as income?

[jb1997]

They wont sue me for the difference?

Wasn't there something that started with Bush that Obama re-upped that said when it's foreclosed or short sale, the difference didn't have to be counted as income?

This is from CA not sure about your state but it conforms with the Fed Act:

http://www.ftb.ca.gov/aboutFTB/newsroom/Mortgage_Debt_Relief_Law.shtml

[lovemybugs10]

I am in MN, but the house is in KY.