Archive for October, 2008
Wall Street, now is admitting they may need $2 trillion taxpayer dollars, will Congress allow them to get it?
Woody Woodburn asked: Wall Street and financial experts say with impending bank collapses and the housing market continuing its decline, they made need over $2 Trillion dollars before all is said and done to offset what has happened in the economy and market. Do you believe the U.S. Congress will give them that kind of [...]
Did Obama wow you last night? ?
roxy asked: Well hopefully your eyes were opened to his deceitfulness:
WASHINGTON – Democratic presidential candidate Barack Obama was less than upfront in his half-hour commercial Wednesday night about the costs of his programs and the crushing budget pressures he would face in office.
Obama’s assertion that “I’ve offered spending cuts above and beyond” the expense of [...]
I’m moving to a new house and have remortgaged my house as a buy to let. This was to break the chain and to
zeldazelda@btinternet.com asked: not loose the other house. I really thought my house would sell but it hasn’t. I now have to decide if I want to let it out? If I don’t then i’m paying mortgage on an empty house. I heard that I would have to pay 40% between the sale price and the [...]
Upside down in my mortgage, want out?
Thomas K asked: Refinanced the house a year ago, appraised value was 319K. Took out a 5/1 I/O Arm at 5.75% and now the home is only worth 210K, (florida market coming off from hyperinflation). I now need to move into a larger home due to our family getting larger. My credit [...]
What losses can be deducted to offset a 1099-C for an investment property?
Sad in FL asked: I own this home since feb/06. Will I be able to deduct mortgage interest, taxes,maintenance and other expenses to any income I have to report (1099-C)? What about the downpayment I walked away from. In my case I put down 20k. My loan balance is $172K and properties in area are [...]
Have a 1099 from title co. for material purchased on a rehab. How do I offset this amount if it isn’t my mort
Greg K asked: The mortgage is in my father’s name. The total amount is for materials. I am not earning any money for labor. How can I write this amount off on my taxes?
The new bailout bill has a mental health parity? Thought this was about the fiduciary stability of the country?
the real shaz asked: http://www.cnn.com/2008/POLITICS/09/30/campaign.wrap/index.html?iref=mpstoryview
Consumer confidence is up, Wall Street rallies, Asian markets are recovering, HK grew, EU is handling its own, India is predicting it will not be affected, the “real” price of oil is resetting, the American public is more willing to see a loss on their quarterly statements than to take on [...]
fixed rate mortgage does property taxes go up every year and if so does your mortgage rate go up because of?
youhave24charcterstoworkwith asked: this situation, how does the mortgage company offset the issue with property taxes?
Follow up to earlier question regarding removing spouses name from 2nd mortage?
mspot101 asked: Ok, I’ve attempted (twice in two weeks) to remove my ex-wife’s name from the 2nd mortgage we took out together when we bought our home. (She’s already off the first) The problem is the housing market here, like most areas, has taken some hits. This down-turn has offset any of the [...]
I bought a second home which I rent to my disabled brother. For taxes is it a rental or a second home?
paigespeace asked: I bought a second home which I rent to my disabled brother.
Is this home considered a rental or a second home?
He basically pays the mortgage on it & pays what could be considered fair market value on it.
If it is considered a rental, what can I write off to offset the ‘income’ from [...]
