Happy 450th Birthday, Bard! “To be, or not to be: that is the question: Waive a Deficiency or Not?
Short Sales and Foreclosures – 1099 Waiver of Deficiencies
The arcane implications of receiving a 1099 after a short sale or a foreclosure are as complex as the opening lines in Sir William Shakespeare’s’ Hamlet. Thus, the question is not; “to be or not to be” but, rather whether to waive a deficiency or not.. and that is the question.
Roy Oppenheim, Oppenheim Law – esq, Florida real estate and homeowner defense attorney and national legal blogger explains the differences in short sales and foreclosures for Florida Homeowners regarding taxes, the IRS and waivers of deficiency. You can also watch this video here.
Full Act is here:
To be, or not to be: that is the question:
Whether ’tis nobler in the mind to suffer
The slings and arrows of outrageous fortune,
Or to take arms against a sea of troubles,
And by opposing end them? To die: to sleep;
No more; and by a sleep to say we end
The heart-ache and the thousand natural shocks (70)
That flesh is heir to, ’tis a consummation
Devoutly to be wish’d. To die, to sleep;
To sleep: perchance to dream: ay, there’s the rub;
For in that sleep of death what dreams may come
When we have shuffled off this mortal coil,
Must give us pause: there’s the respect
That makes calamity of so long life;
For who would bear the whips and scorns of time,
The oppressor’s wrong, the proud man’s contumely,
The pangs of despis’d love, the law’s delay, (80)
The insolence of office and the spurns