After Isaac stopped making his mortgage payments, the lender foreclosed on his home and issued Form 1099-A to him. The outstanding balance on the recourse loan was $80,000, and the fair market value of the property on the date of foreclosure was $73,000. What is Isaac's realized amount from the foreclosure?

1) $7,000

2) $73,000

3) $80,000

4) $153,000