[SK in CV]

[quote=UCGal]That graph is very distressing.

Health care costs in the US are out of control… and despite having what’s perceived as the best medical care in the world – the results aren’t showing that.[/quote]

Perceived as…..

According to the World Heath Organization, based on the most recent survey they’ve done, the US ranks 37th.

I’m not disputing your claim about the perception. I think you’re accurate. That perception, however, is clearly wrong. Our system is irreparably broken.

http://www.photius.com/rankings/who_world_health_ranks.html

[SK in CV]

[quote=UCGal]That graph is very distressing.

Health care costs in the US are out of control… and despite having what’s perceived as the best medical care in the world – the results aren’t showing that.[/quote]

Perceived as…..

According to the World Heath Organization, based on the most recent survey they’ve done, the US ranks 37th.

I’m not disputing your claim about the perception. I think you’re accurate. That perception, however, is clearly wrong. Our system is irreparably broken.

http://www.photius.com/rankings/who_world_health_ranks.html

[SK in CV]

[quote=UCGal]That graph is very distressing.

Health care costs in the US are out of control… and despite having what’s perceived as the best medical care in the world – the results aren’t showing that.[/quote]

Perceived as…..

According to the World Heath Organization, based on the most recent survey they’ve done, the US ranks 37th.

I’m not disputing your claim about the perception. I think you’re accurate. That perception, however, is clearly wrong. Our system is irreparably broken.

http://www.photius.com/rankings/who_world_health_ranks.html

[SK in CV]

[quote=UCGal]That graph is very distressing.

Health care costs in the US are out of control… and despite having what’s perceived as the best medical care in the world – the results aren’t showing that.[/quote]

Perceived as…..

According to the World Heath Organization, based on the most recent survey they’ve done, the US ranks 37th.

I’m not disputing your claim about the perception. I think you’re accurate. That perception, however, is clearly wrong. Our system is irreparably broken.

http://www.photius.com/rankings/who_world_health_ranks.html

[SK in CV]

[quote=flu][quote=SD Realtor]No fair FLU, the limit was a million bucks!

ps – when will you change your username back to what it used to be?[/quote]

Sigh…. I think this almost meets my criteria (4 car port, not really 4 car garage. But close enough)…

http://www.sdlookup.com/MLS-100069811-13772_Pine_Needles_Dr_Del_Mar_CA_92014

The only thing that sucks in life is that someone else is always living your dreams….[/quote]

Not to pick nits or anything, but thats gotta be close to 1.5 miles from the beach. Much closer to the water than any beach access.

[SK in CV]

[quote=flu][quote=SD Realtor]No fair FLU, the limit was a million bucks!

ps – when will you change your username back to what it used to be?[/quote]

Sigh…. I think this almost meets my criteria (4 car port, not really 4 car garage. But close enough)…

http://www.sdlookup.com/MLS-100069811-13772_Pine_Needles_Dr_Del_Mar_CA_92014

The only thing that sucks in life is that someone else is always living your dreams….[/quote]

Not to pick nits or anything, but thats gotta be close to 1.5 miles from the beach. Much closer to the water than any beach access.

[SK in CV]

[quote=flu][quote=SD Realtor]No fair FLU, the limit was a million bucks!

ps – when will you change your username back to what it used to be?[/quote]

Sigh…. I think this almost meets my criteria (4 car port, not really 4 car garage. But close enough)…

http://www.sdlookup.com/MLS-100069811-13772_Pine_Needles_Dr_Del_Mar_CA_92014

The only thing that sucks in life is that someone else is always living your dreams….[/quote]

Not to pick nits or anything, but thats gotta be close to 1.5 miles from the beach. Much closer to the water than any beach access.

[SK in CV]

[quote=flu][quote=SD Realtor]No fair FLU, the limit was a million bucks!

ps – when will you change your username back to what it used to be?[/quote]

Sigh…. I think this almost meets my criteria (4 car port, not really 4 car garage. But close enough)…

http://www.sdlookup.com/MLS-100069811-13772_Pine_Needles_Dr_Del_Mar_CA_92014

The only thing that sucks in life is that someone else is always living your dreams….[/quote]

Not to pick nits or anything, but thats gotta be close to 1.5 miles from the beach. Much closer to the water than any beach access.

[SK in CV]

[quote=flu][quote=SD Realtor]No fair FLU, the limit was a million bucks!

ps – when will you change your username back to what it used to be?[/quote]

Sigh…. I think this almost meets my criteria (4 car port, not really 4 car garage. But close enough)…

http://www.sdlookup.com/MLS-100069811-13772_Pine_Needles_Dr_Del_Mar_CA_92014

The only thing that sucks in life is that someone else is always living your dreams….[/quote]

Not to pick nits or anything, but thats gotta be close to 1.5 miles from the beach. Much closer to the water than any beach access.

[SK in CV]

1. Maybe the amount due, including principle, interest, late charges, trustee fees, etc. Maybe not. Just a guess, and it wouldn’t be the right way to do it.
2. It’s not a yes or no question. The form says “Check here if the borrower was personally liable for repayment of the debt”
3. Because you had no debt forgiveness. (Simply put, from the lenders perspective, the foreclosure satisfied the debt.)
4. Remote.
5. Even more remote. Assuming the foreclosure was in 2010.
6. No

Lenders are not consistent on the way these forms are prepared. They are often prepared incorrectly. Based on this cursory information it would seem you shouldn’t incur any tax liability based on the foreclosure. If TurboTax agrees, go with it.

And no, the bank is not keeping the loan in limbo status. They have some flexibility with valuing delinquent loans. Once the foreclosure occurs, they must recognize the loss. Particularly if the REO was subsequently disposed of during the same year, they cannot delay recognition. What they used as FMV on your 1099 and how their valuing the asset in their records don’t necessarily have any relationship with each other. (Additionally, more likely than not, the “bank” did not own your loan, so loss recognition isn’t even an issue.)

[SK in CV]

1. Maybe the amount due, including principle, interest, late charges, trustee fees, etc. Maybe not. Just a guess, and it wouldn’t be the right way to do it.
2. It’s not a yes or no question. The form says “Check here if the borrower was personally liable for repayment of the debt”
3. Because you had no debt forgiveness. (Simply put, from the lenders perspective, the foreclosure satisfied the debt.)
4. Remote.
5. Even more remote. Assuming the foreclosure was in 2010.
6. No

Lenders are not consistent on the way these forms are prepared. They are often prepared incorrectly. Based on this cursory information it would seem you shouldn’t incur any tax liability based on the foreclosure. If TurboTax agrees, go with it.

And no, the bank is not keeping the loan in limbo status. They have some flexibility with valuing delinquent loans. Once the foreclosure occurs, they must recognize the loss. Particularly if the REO was subsequently disposed of during the same year, they cannot delay recognition. What they used as FMV on your 1099 and how their valuing the asset in their records don’t necessarily have any relationship with each other. (Additionally, more likely than not, the “bank” did not own your loan, so loss recognition isn’t even an issue.)

[SK in CV]

1. Maybe the amount due, including principle, interest, late charges, trustee fees, etc. Maybe not. Just a guess, and it wouldn’t be the right way to do it.
2. It’s not a yes or no question. The form says “Check here if the borrower was personally liable for repayment of the debt”
3. Because you had no debt forgiveness. (Simply put, from the lenders perspective, the foreclosure satisfied the debt.)
4. Remote.
5. Even more remote. Assuming the foreclosure was in 2010.
6. No

Lenders are not consistent on the way these forms are prepared. They are often prepared incorrectly. Based on this cursory information it would seem you shouldn’t incur any tax liability based on the foreclosure. If TurboTax agrees, go with it.

And no, the bank is not keeping the loan in limbo status. They have some flexibility with valuing delinquent loans. Once the foreclosure occurs, they must recognize the loss. Particularly if the REO was subsequently disposed of during the same year, they cannot delay recognition. What they used as FMV on your 1099 and how their valuing the asset in their records don’t necessarily have any relationship with each other. (Additionally, more likely than not, the “bank” did not own your loan, so loss recognition isn’t even an issue.)

[SK in CV]

1. Maybe the amount due, including principle, interest, late charges, trustee fees, etc. Maybe not. Just a guess, and it wouldn’t be the right way to do it.
2. It’s not a yes or no question. The form says “Check here if the borrower was personally liable for repayment of the debt”
3. Because you had no debt forgiveness. (Simply put, from the lenders perspective, the foreclosure satisfied the debt.)
4. Remote.
5. Even more remote. Assuming the foreclosure was in 2010.
6. No

Lenders are not consistent on the way these forms are prepared. They are often prepared incorrectly. Based on this cursory information it would seem you shouldn’t incur any tax liability based on the foreclosure. If TurboTax agrees, go with it.

And no, the bank is not keeping the loan in limbo status. They have some flexibility with valuing delinquent loans. Once the foreclosure occurs, they must recognize the loss. Particularly if the REO was subsequently disposed of during the same year, they cannot delay recognition. What they used as FMV on your 1099 and how their valuing the asset in their records don’t necessarily have any relationship with each other. (Additionally, more likely than not, the “bank” did not own your loan, so loss recognition isn’t even an issue.)

[SK in CV]

1. Maybe the amount due, including principle, interest, late charges, trustee fees, etc. Maybe not. Just a guess, and it wouldn’t be the right way to do it.
2. It’s not a yes or no question. The form says “Check here if the borrower was personally liable for repayment of the debt”
3. Because you had no debt forgiveness. (Simply put, from the lenders perspective, the foreclosure satisfied the debt.)
4. Remote.
5. Even more remote. Assuming the foreclosure was in 2010.
6. No

Lenders are not consistent on the way these forms are prepared. They are often prepared incorrectly. Based on this cursory information it would seem you shouldn’t incur any tax liability based on the foreclosure. If TurboTax agrees, go with it.

And no, the bank is not keeping the loan in limbo status. They have some flexibility with valuing delinquent loans. Once the foreclosure occurs, they must recognize the loss. Particularly if the REO was subsequently disposed of during the same year, they cannot delay recognition. What they used as FMV on your 1099 and how their valuing the asset in their records don’t necessarily have any relationship with each other. (Additionally, more likely than not, the “bank” did not own your loan, so loss recognition isn’t even an issue.)

[SK in CV]

Learn open water sailing. And sail from somewhere to somewhere else.

[Author]

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