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loan modification real or fake and 1099-A

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    #1

    loan modification real or fake and 1099-A

    client brings in 1099-A, he tells me he contacted the bank and the bank would not modify his loan. he is still living in the house and paid $3000 to a lawyer and the lawyer is trying to get his loan modified, I went ahead and checked on tax collectors website it does not show him as the owner but the bank as the owner, and also client told me that they came and put a 72 hour notice on his door to vacate the premises, so he called his lawyer and the lawyer said don't worry you can stay there we have faxed the paperwork to the bank and they will not make you leave, so the question is:-

    can you still get a 1099-A during your loan modification, and if you are modifying your loan doesn't that mean that the bank hasn't foreclosed on it yet?? or is this guy a victim of loan modification fraud???

    thanks
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