The Mortgage Forgiveness Relief Act of 2007 was passed by Congress to avoid additional financial hardship that some homeowners might experience due to a foreclosure or short sale. The law affects mortgage relief that occurs from January 1, 2007 to December 31, 2012

Normally, IRS considers partial or …

Question of the Day

Q: Are fees and assessments owed a homeowner’s association deductible?

A: Generally not because they are considered personal living expenses. But if an association has a special assessment to make capital improvements, condo owners may be able to add the expense to their cost basis …

You might think that a person who pays cash doesn't have many concerns or at least not the same ones as most people. Roughly, about 9% of people paid cash for their home last year with a considerably higher percentage paying cash this year.

The first …

Besides the obvious Federal Income Tax deadline which is April 18th this year, the deadline for individuals who can qualify for the Homebuyers Tax Credit is quickly approaching - April 30, 2011.

The extension was granted for members of the military, Intelligence and Foreign Service who have served …

I was going through a drawer looking for a card when I found an airline ticket credit voucher for $100 that had expired. What a waste! That got me to thinking of all of the gift cards that were given this year and will get tucked away and forgotten …