The transaction is not the norm for us so I'm rather in the dark about the proper way to report this loan. How do you report, via E-Oscar, a loan that was settled by a short sale of the collateral and the bank (crammed down to current collateral value) charged off $100k?
Special comment code of: Account paid in full for less than full balance
or
Account Status: Unpaid balance reported as a loss by credit grantor (charge off)
TIA
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Just working here until I get my letter from Hogwarts.
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