I am being foreclosed on, it is a rental property. the house is way underwater.

You certainly could receive a 1099 in this scenario. If you file for a bankruptcy, however, it would not be taxable.

Revised Question: I confused, with 20% of "Unit owners" vs 20% "percentage of ownership"?

First of all, if all of the owners have the same percentage then it shouldn't matter. Otherwise, you should look to the bylaws to see if the terms...

I have a discharged Chapter 7 & the bank will be now starting to foreclosure. Will i have a BK and Foreclosure on my credit?

As long as the information is truthful, it should show on the credit report. Fortunately, time will heal both of these wounds.

I would expect them to withdraw the complaint, but you should contact them to be sure and step up in court on the date of confirmation (if that is...

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Hi, i need to know can i purchase my first home even though my chp13 is closed without discharge?

You can legally purchase a home and obtain financing. Whether or not a lender will finance the purchase is a separate question. I would suggest...

My Bankruptcy was discharged & want to short sell my house.Does the cosigner need to be involved? They are not on title.

As long as they are not on title, you can sell without their involvement.

Trying to stop a Debtor from fleeing the country.

I cannot comment on the state law aspect on actions to enforce the debt, but if the Debtor filed a bankruptcy, then bankruptcy stay would stop you...

Can the state impose an order upon me, from a ticket that is 10 years old? Is there a SOL on these tickets ?

The bankruptcy does not discharge criminal fines, but a Chapter 13 plan can allow you to pay the fines through the plan.

Is a 30-late on my credit file correctable if it was caused by a medical incapacity?

The credit report should reflect the truth. It sounds like it does here, so there would be no violation.

Chapter 13 Monthly Payments

I would expect that if the creditors are being paid 100% when the house is sold, then your payments could be small until then. This is something...