Q: Do I still,owe repayment for 2008 first time home owner if my home foreclosed
A: If the lender bid the entire amount owed at the foreclosure sale, then you do not owe them any money. If they bid less than the amount due, you still owe the balance. If there was a second or third mortgage and they did not redeem the property by paying off the first mortgage, you would still owe those amounts. If any loan balances were forgiven, the lender would send a 1099-C to the IRS which considers forgiven debt to be income unless you can show you were insolvent at the time. Hope that helps.
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