SEC, FINRA to review Facebook issues, Nasdaq sued(Reuters) - Two top U.S. financial regulators said the issues around the initial public offering of Facebook should be reviewed, putting fresh pressure on the company, its embattled lead underwriter and … More »SEC, FINRA to review Facebook issues, Nasdaq sued
(Reuters) - Two top U.S. financial regulators said the issues around the initial public offering of Facebook should be reviewed, putting fresh pressure on the company, its embattled lead underwriter and the Nasdaq. After Friday's nearly flat close and Monday's 11 percent plunge, Facebook shares closed 8.9 percent lower …
Insight: Morgan Stanley cut Facebook estimates just before IPO(Reuters) - In the run-up to Facebook's $16 billion IPO, Morgan Stanley, the lead underwriter on the deal, unexpectedly delivered some negative news to major clients: The bank's consumer Internet analyst, … More »Insight: Morgan Stanley cut Facebook estimates just before IPO
(Reuters) - In the run-up to Facebook's $16 billion IPO, Morgan Stanley, the lead underwriter on the deal, unexpectedly delivered some negative news to major clients: The bank's consumer Internet analyst, Scott Devitt, was reducing his revenue forecasts for the company. The sudden caution very close to Facebook's initial …
Regulators, investors turn up heat over Facebook IPO(Reuters) - Two top U.S. financial regulators said on Tuesday the issues around the initial public offering of Facebook should be reviewed, putting fresh pressure on the company, its lead underwriter, … More »Regulators, investors turn up heat over Facebook IPO
(Reuters) - Two top U.S. financial regulators said on Tuesday the issues around the initial public offering of Facebook should be reviewed, putting fresh pressure on the company, its lead underwriter, Morgan Stanley, and the Nasdaq stock exchange. Facebook shares closed 8.9 percent lower at $31, following an 11 percent …
Apple still dominates world's top brands: study(Reuters) - Apple has maintained its place as the world's most valuable brand over the past year, leading a group of technology-related companies that dominate the top 10, according to a study published … More »Apple still dominates world's top brands: study
(Reuters) - Apple has maintained its place as the world's most valuable brand over the past year, leading a group of technology-related companies that dominate the top 10, according to a study published on Tuesday. The iPhone and iPad maker has boosted its brand value by 19 percent in the past year to $183 billion, or 37 …
Guessing game begins over next Treasury chiefWASHINGTON (Reuters) - Wanted for the Treasury Department: a new boss who can fix trillion-dollar-plus budget deficits, overhaul the tax system and spur a reluctant Europe into fixing its debt crisis. … More »Guessing game begins over next Treasury chief
WASHINGTON (Reuters) - Wanted for the Treasury Department: a new boss who can fix trillion-dollar-plus budget deficits, overhaul the tax system and spur a reluctant Europe into fixing its debt crisis. It's a tall order, especially when the new Treasury chief also must deal with a fractious Congress - and all for a salary …
Dell results disappoint Street, shares diveSAN FRANCISCO (Reuters) - Dell Inc forecast disappointing second-quarter revenue as U.S. and European corporate tech spending weakens and consumer personal computer sales continue to shrink, hammering … More »Dell results disappoint Street, shares dive
SAN FRANCISCO (Reuters) - Dell Inc forecast disappointing second-quarter revenue as U.S. and European corporate tech spending weakens and consumer personal computer sales continue to shrink, hammering its shares. Shares in the company, which like rival Hewlett-Packard Co is losing market share to mobile devices such as …
Stock index futures signal losses; Dell eyedPARIS (Reuters) - Stock index futures pointed to a lower open on Wall Street on Wednesday, with futures for the S&P 500 down 0.65 percent, Dow Jones futures down 0.46 percent and Nasdaq 100 futures down … More »Stock index futures signal losses; Dell eyed
PARIS (Reuters) - Stock index futures pointed to a lower open on Wall Street on Wednesday, with futures for the S&P 500 down 0.65 percent, Dow Jones futures down 0.46 percent and Nasdaq 100 futures down 0.49 percent at 0911 GMT. Dell Inc will be in focus after the computer major forecast disappointing second-quarter revenue …
Wall Street ends flat after late volatilityNEW YORK (Reuters) - Stocks closed mostly flat on Tuesday after volatility late in the session, with weakness in materials and energy shares offsetting strength in financials. Shares traded higher for … More »Wall Street ends flat after late volatility
NEW YORK (Reuters) - Stocks closed mostly flat on Tuesday after volatility late in the session, with weakness in materials and energy shares offsetting strength in financials. Shares traded higher for much of the session on the back of an unexpectedly strong read on existing home sales, which lifted banks. But those gains …
Home resales rise, boding well for economyWASHINGTON (Reuters) - The pace of sales for existing homes in April rose to its fastest in nearly two years and a falloff in foreclosures helped cause an unexpected jump in prices, hopeful signs for the … More »Home resales rise, boding well for economy
WASHINGTON (Reuters) - The pace of sales for existing homes in April rose to its fastest in nearly two years and a falloff in foreclosures helped cause an unexpected jump in prices, hopeful signs for the country's economic recovery. Home resales increased 3.4 percent to an annual rate of 4.62 million units last month, the …
- The numbers on the Facebook earnings revisions
SAN FRANCISCO (Reuters) - Four of Facebook's major underwriters -- Morgan Stanley, Goldman Sachs, JPMorgan and Bank of America -- reduced their financial estimates for the soon-to-be-public company following … More »The numbers on the Facebook earnings revisions
SAN FRANCISCO (Reuters) - Four of Facebook's major underwriters -- Morgan Stanley, Goldman Sachs, JPMorgan and Bank of America -- reduced their financial estimates for the soon-to-be-public company following the release of a revised prospectus on May 9 that noted the negative impact of mobile users on Facebook's business. …
Glencore takes control of Mutanda with $480 million dealLONDON (Reuters) - Commodities trader Glencore has taken majority control of its fast-growing Mutanda copper operation in Congo with deals worth $480 million, marking the first step in a planned merger … More »Glencore takes control of Mutanda with $480 million deal
LONDON (Reuters) - Commodities trader Glencore has taken majority control of its fast-growing Mutanda copper operation in Congo with deals worth $480 million, marking the first step in a planned merger of the mine with its nearby Kansuki concession. Mutanda, in central Africa's copper belt, is one of Glencore's main growth …
- Nasdaq admits put wrong fix for Facebook IPO glitch
NEW YORK (Reuters) - Nasdaq OMX Group Inc admitted in a call with its member brokerage firms on Tuesday that it put the wrong fix for a technical glitch related to Facebook's IPO in place on Friday, which … More »Nasdaq admits put wrong fix for Facebook IPO glitch
NEW YORK (Reuters) - Nasdaq OMX Group Inc admitted in a call with its member brokerage firms on Tuesday that it put the wrong fix for a technical glitch related to Facebook's IPO in place on Friday, which led to trading disruptions for much of the day. Nasdaq believed it had the correct solution to fix the problem that …
Exclusive: Housing chief leaves Morgan to launch buy-to-rent fund(Reuters) - Oliver Chang, head of U.S. housing strategy at Morgan Stanley, who has written more about foreclosed homes as an investment opportunity than any other Wall Street analyst, is leaving his firm … More »Exclusive: Housing chief leaves Morgan to launch buy-to-rent fund
(Reuters) - Oliver Chang, head of U.S. housing strategy at Morgan Stanley, who has written more about foreclosed homes as an investment opportunity than any other Wall Street analyst, is leaving his firm to start his own buy-to-rent housing fund. Chang announced his decision on Monday in a resignation letter he submitted …
- Facebook settles lawsuit over "Sponsored Stories"
SAN FRANCISCO (Reuters) - Facebook Inc has agreed to settle a lawsuit that alleged the site's "Sponsored Stories" feature publicized users' "likes" without compensation or the ability to opt out, according … More »Facebook settles lawsuit over "Sponsored Stories"
SAN FRANCISCO (Reuters) - Facebook Inc has agreed to settle a lawsuit that alleged the site's "Sponsored Stories" feature publicized users' "likes" without compensation or the ability to opt out, according to a court document filed on Tuesday. The proposed class action lawsuit, filed in a San Jose, California federal court, …
Gupta jury hears competing views of Rajaratnam tiesNEW YORK (Reuters) - Former Goldman Sachs director Rajat Gupta was once on hedge fund billionaire Raj Rajaratnam's "important people" list but excluded from a fantasy football celebration helicopter trip … More »Gupta jury hears competing views of Rajaratnam ties
NEW YORK (Reuters) - Former Goldman Sachs director Rajat Gupta was once on hedge fund billionaire Raj Rajaratnam's "important people" list but excluded from a fantasy football celebration helicopter trip to Atlantic City with other corporate high-flyers. On the second day of Gupta's insider-trading trial in Manhattan federal …
Question
House foreclosure (CountryWide) question?
My husband has a foreclosure on a house from 2003. But he was told that on his credit history that the foreclosure still shows that it is "open". If he received a 1099-C in 2003, doesn't this mean that the loan was closed because the house was sold and he had to take the hit to his taxes that year? I thought if you had a foreclosure that part of the process was done, and how can it still show open if the physical house has been sold and someone else now owns it? I'm SOOOO confused!
2 years ago - 2 answersBest Answer
Chosen by Asker
I was in the exact same situation! I went for small mortgage last year and was turned down because it was showing as "open" Is it the actual judgment that is showing as open? With me, the forclosure was satisfied when the bank auctioned the house off in 2006 which "ended" the forclosure process and was showing as a $0 balance but the judgment was still on the report for the amount owed on the mortgage.
The first thing to do is go to the court where house was auctioned showing that the sale of the house actually took place. Then contact the court that took out the judgment against you, show them the proof that the judgment was satisfied (through auction sale documentation) and request that they report the judgment is satisfied. since its 2010 you should be due for it to come off sometime this year or early next year.
Source(s):
Personal experience
2 years agoOther Answers
Generically, a foreclosure -- the actual event -- is over when the bank takes the house and auctions it off.
However, your credit report is a history of all of your credit activities and explicitly includes the past. Most "bad" items, including foreclosure, can remain on your credit for 7 years.
I would question what "open" means to the credit agency itself. If it means that a foreclosure is in process, then you should be able to get them to report it as "closed" as of the date the foreclosure process ended. (Which starts the 7 year clock for the item remaining on a credit report)
