Report: #687277

Complaint Review: World Savings Bank

  • Submitted: Wed, January 26, 2011
  • Updated: Fri, January 28, 2011
  • Reported By: coleen — Desoto Texas United States of America
  • World Savings Bank
    4101 Wiseman Blvd
    San Antonio, Texas
    United States of America

World Savings Bank Wachovia Filed 1099C on mortgage balance after selling the home- same year for $13,840 more than balance San Antonio, Texas


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IRSadvises a 1099C was issued for my mortgage balance in 2006. I never received a notice until hearing from IRS last October.
Igave up my home to the mortgage company as I have cancer and could no longer make payments.I was paid $500.00 by World Savings to help me with moving expense. (THANKS).

I foreclosed Novemeber 2006 and the property sold December 2006 for $13,840.00 more than the mortgage balance. Still, a 1099C was issued for the entire loan balance.IRS intends to collect on this unpaid debt as income to me. It is public record of the sale of the property, however IRS states it is up to the lender to correct. WACHOVIA gave me a fax number andI faxed everything to them last November 2010.WACHOVIA states there is no phone number but customer service doesexist in San Antonio. I have not had a response. I am still disabled and cannot pay this debt but IRS can and will garnish my disability check. I don't owe this as the propety was sold at a profit. I left the home in move-in condition and an agent did a walk through before accepting the keys and handing me the $500 check. In January 2007, congress passed a law forgiving up to $250,000. of foreclosed mortgage debt for a single person, but my foreclosure was 2 months prior. Unless the 1099C is corrected- IRS says I owe the debt.

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This report was posted on Ripoff Report on 01/26/2011 07:01 PM and is a permanent record located here: The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Comment


AUTHOR: Karl - (USA)

which is also referred to as the "hub", according to information available on the web.

If you 'Google' this- WHO OWNS THE FED BANK, WHO CONTROLS WHO VIDEO, and watch it, you'll see several charts being displayed in that video, correct?

Those same charts are also available on the web! Just 'Google' this- WHO OWNS THE FED?, and go to the site with the 5 charts and you'll see that "Wachovia Corporation" appears in 'Chart 3', correct?

Finally, 'Google' this- WACHOVIA BANK AND WELLS FARGO: DRUG LAUNDERMATS TO THE WORLD, and read the related articles on the web, okay?

***It certainly appears that Wachovia is part of an organized crime syndicate, wouldn't you agree?

Good luck to you!

***************************** EXTRA INFO *****************************

*Don't forget to 'Google' this- WACHOVIA COMPLAINTS SECRET LIFE INSURANCE POLICIES, and read the article about how many of the banks, including Wachovia, have taken out 'secret life insurance policies' on their employees, and "death sweeps" are being performed so the executives at these banks can receive the death benefit checks, okay?

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