Posted by j lucas on February 02, 1998 at 12:24:37:
I recently received a Form 1099A (Abandonment) from Great Western Bank relating to my late mother's house located in San Diego, which was foreclosed upon last year. On the form the "balance of principal outstanding" is shown as $83,436.77 and the "fair market value of property" is listed as $95,000. Does this mean that there is a residual of approximately $11,000 that should be returned to my family? A speedy reply is requested.
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