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repo/settlement and 1099

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I settled with SYNCOM, a CA for Greentree Servicing LLC on a repo'd mobile home (by the way, I was never notified about the repossession either before or after the fact).

I understand that I need to pay taxes on the difference of my settlement amount and the balance of the loan. However, how does the repo come into play in this instance?

I no longer have possession of the property...they took it back and more than likely re-sold it (it was nearly new and in very good shape). :confused:

Thanks for all advice/opinions :)++

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