Legal Question in Real Estate Law in Pennsylvania

A Pennsylvania post-foreclosure question:

Prior to foreclosure, the property in question was vested in another party, having been sold to them in 2008, and my wife and I held the mortgage in our names and they were making the payments. Party which was a business, failed, and they stopped making payments. A foreclosure judgement, in rem, was entered against all parties (partnership, myself and wife). Property was sold to plaintiff (bank) at sheriff's sale in June 2013, in other words, the bank took the property back. Statute of limitations (Pennsylvania) has run out for the bank to file suit for a deficiency judgement, and according to PA law, that would have been when and how they needed to petition the court to set a fair market value, so none was ever set judicially. The bank, subsequent to the sheriff's sale, put the property on the market, and sold the property in December 2013 for what appears to be just under less than half of the total judgement.

To date I have received neither a 1099a or 1099c. I don't see why, although my wife and I were named in the foreclosure, that we should receive a 1099a, since we were not the owners of record at the time of the foreclosure, and since presumably, the only way the bank could legally set a fair market value was to have petitioned the court in a deficiency judgement, which they did not do; fair market value is required information for issuing a 1099a. MOREOVER, it seems to me that since they can no longer collect any deficiency having not commenced any action within the statute of limitations (6 months), the only thing they can do is send us a 1099c. And of course, I understand that the bank will run on its own time in terms of issuing a 1099c, and that it is possible that we may not get a 1099c until next year, 2015.

My question is: am I reading the situation right? What, if anything, should I file with regard to the foreclosure in the current tax year?

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