Hello Rebate Check, Goodbye to Credit-Card Debt: John F. Wasik
Bloomberg - Unlike mortgage debt, you can’t write off personal credit- card interest on your federal taxes. It’s not deductible as a business or investment loss.
Mayor Melton to Settle Mortgage Debt (WLBT 3 Jackson)
Jackson Mayor Frank Melton says he will take care of his past-due mortgage Tuesday, when banks re-open. Melton is facing a possible March 11th foreclosure on his home unless the overdue mortgage note is paid.
Tax Tip: Mortgage Forgiveness Debt Relief Act of 2007 [Taxes]
Tax Cat knows that it’s a hard subject, but if your home has been foreclosed there’s something you should know about changes to the tax laws. Tax laws consider forgiven debt as income, which can leave those of you with foreclosed homes with some unexpected tax bills this year. Let’s say I loan you a million bazillion dollars. Now I go, “Oh, wait. Never mind. You can keep it.” The IRS considers that income. You would have to pay the taxes on your million bazillion dollars. The tricky part co
Spain’s opposition sounds alarm on banks ahead of vote
Guardian Unlimited - Such assurances follow a string of analysts’ reports forecasting problems at Spanish savings banks, or cajas, due to exposure to real estate and mortgage debt at the end of a housing boom and because of an economic slowdown.