The Latest Debt & Finance Blog
Homeowners confronting the challenges of foreclosure or the short sale of their homes may soon be facing yet another hardship — income tax on money they will never see. For…
In response to overwhelming household debt and tax liabilities, the Internal Revenue Service (IRS) recently announced it intends to aid struggling Americans by possibly reducing their tax debt. In May…
American consumers can’t seem to catch a break. It seems every time we look around, prices are going up. Bank fees are no different. MoneyRates.com recently found that banking costs…
As the American housing market continues to struggle, several banks are making an effort to lessen the financial burden on distressed homeowners. Citigroup is implementing a pilot program this month,…
While America’s demand for mortgages has gone up this summer, the banks still haven’t budged much on their tightened lending standards, CNN recently reported. The Federal Reserve recently announced that…
Economists are increasingly optimistic this month as more than 163,000 new jobs were added to the American market in July, the highest figure in the past five months. This number…
There’s no denying that a nationwide consumer debt crisis continues to wreak havoc on middle- and lower-class households. But those on opposing sides of the political spectrum disagree about how…
Over the past few years, millions of older Americans have found themselves in a much more challenging financial position than they ever imagined. The American Dream, which once included a…
Conservatives and liberals agree that high levels of national consumer debt continue to deter financial freedom and stifle the economy as a whole. But those with opposing political views disagree…
Millions of Americans may be taking home a few less dollars next year, as a major tax cut may soon disappear. The payroll tax break, first enacted in 2010 by…
Sources:
- Lindahl, K. (2012, August 10). 2007 Mortgage Debt Relief Act Extension Saves Homeowners 1,000’s Of Dollars. [Press release]. Retrieved from http://www.prweb.com/releases/2007-Mortgage-Debt-Relief/Kris-Lindahl/prweb9787670.htm
- Glink, I. (2012, June 28). New taxes on forgiven mortgage debt to hit owners. CBS MoneyWatch. Retrieved from http://www.cbsnews.com/8301-505145_162-57451831/new-taxes-on-forgiven-mortgage-debt-to-hit-owners/
- Ten Facts for Mortgage Debt Forgiveness. (2011, March 3). Internal Revenue Service. Retrieved from https://www.irs.gov/
- To Be or Not to Be: The Mortgage Forgiveness Debt Relief Act Extension Beyond December 12, 2012. (2012, June 11). Peak Your Brain. Retrieved from http://peakyourbrain.blogspot.com/2012/06/to-be-or-not-to-be-mortgage-forgiveness.html