People often complain about the difficulty in obtaining a modification of their loan to achieve a more affordable payment. The fundamental problem that exists is that your mortgage lender that you make monthly mortgage payments to is oft
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It has to be noted that 70% of seniors are expected to have to tap their home equity to make it to retirement let alone through retirement. That is not something we really want to hear because not everyone has home equity as a vehicle. We also have t
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It boils down to the concept of unjust enrichment. When someone does not pay a debt or a debt is forgiven, the IRS sees this as effectively income. You no longer have a debt to pay and someone or some business is going to look to write th
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With the constant struggle for everyone in this low interest rate environment we all have to work smarter, not harder to achieve our goals. This is especially true for retirees that no longer earn wages from employment and have to make due with incom
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The “fiscal cliff bill” passed by Congress January 1 included a provision to exclude borrowers from paying taxes on debt forgiven through a short sale, foreclosure, or loan modification. Known as Mortgage Debt Relief Act of 2007, the act
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We are all worried about the fiscal cliff and the idiots in congress on both sides of the isle that we pay and that continue to fail us on material issues. When I use the word idiots I mean it in the most literal way a human being can use it t
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