Tag Archives: taxes

Debt Relief = Income

Many times a homeowner might feel relieved being out from under the obligation of a mortgage they can’t afford even though the property was lost due to foreclosure or short sale. If a lender cancels or forgives debt, a taxpayer … Continue reading

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The Question Every Cash Buyer Should Answer

Paying cash for a home seems like a huge advantage to qualifying for a mortgage and an appraisal. However, for the fortunate few who don’t need a mortgage, there is a question they should answer before they make that decision: … Continue reading

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Shifting Debt to Tax Deductible

The Mortgage Interest Deduction is available to homeowners for up to $1,000,000 of acquisition debt on the combination of their first and second home. They can also deduct interest on up to an additional $100,000 of Home Equity debt. While … Continue reading

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Short-selling Homeowners Rejoice!

I was not one to be overly concerned about the “Fiscal Cliff” – I saw it more as a gradual slope, but there was one thing set to expire on the last day of 2012 that really worried me. The … Continue reading

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You Might Be Delayed In Getting Your Tax Refund If…

you are claiming the First Time Home Buyer Tax Credit. The agency has reported few problems with processing returns and refunds, but this could be a difficult tax year for those who must repay the First Time Homebuyer Credit, a … Continue reading

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