charge off on mortgage

[wxyz]

i am a 60 year male,and on disability. i have defauted on my mortgage because the mortgage company would not help during a time of crisis.i was put on disability in june 2010, at that time i was having a hard time and cashed my wife's 401k to try to pay bills and mortgage. but we got to far behind and we moved to a rental property that was cheaper. the mortgage company charged off our mortgage. it's listed as charge -off/recovery. what is your expert advise for me on this matter, because the mortgage company would not modify our loan . and kept losing our paper work. we then tried to sell for a year. then we tried to short sale , but we could't get help on a short sale.

 

[army judge]

There's nothing more for you to do, except prepare to receive a 1099 for next year's taxes. The charge off will be considered as income by the IRS.

None of what you posted matters insofar as the mortgage and the debt.

It's over, except for the tax ramifications which will upset your tax apple cart.

I suggest you discuss this with a tax expert (not one of those tax preparers in a brick & mortar store), but a CPA, or tax attorney.

In some areas, they volunteer to assist financially disadvantaged people, people with disabilities, and seniors.
Start asking about such a local service between now and mid-summer.

Good luck.