Have second mortgage last payment 7 years ago. Has been charged off. Will they send 1099c even though I will still owe on mortgage

More info needed.. But in general, the lender should have issued the 1099C in the year they charged off the debt.. but according to the IRS.. even if they do not send you a 1099C, you are still required to claim the amount charged off as income.. There are rules in place to determine whether or not you are solvent.. if you are not solvent, then its possible you wont owe any taxes on the phantom income.. check with your tax adviser and let him look at your complete scenario,,, but regardless, you do want to claim the income, because there is no statute of limitations on tax fraud. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893