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finances: It's the Right Time for the First Time - 02/08/08 01:17 PM
It might be the single most common question a realtor hears - is this a good time to buy a house? While the answer depends on your personal circumstances, there are certainly times and circumstances that make "yes!" the right answer for most people. If you're a first time home buyer, this is one of those times. What's bad news for home sellers has created an excellent market for anyone who is in the market for a home.
But I keep hearing the housing market is falling apart. How can that be a good time to buy?
Different market conditions … (3 comments)

finances: What the Mortgage Forgiveness Debt Relief Act Means For You - 02/08/08 01:16 PM
On December 20, President Bush signed a law that is meant to help homeowners who are facing foreclosure or who sell their homes in a short sale. Before this law, the Mortgage Forgiveness Debt Relief Act of 2007, if your bank or lender forgave a portion of your mortgage debt because the value of your home had decreased, the IRS treated the forgiveness as taxable income.
That meant that if your mortgage lender forgave $15,000 in mortgage debt because your house was worth $15,000 less than your remaining mortgage balance, the IRS treated it as earned income. When you filed … (3 comments)

 

Calum MacKenzie

Tampa, FL

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Tampa Homes 24-7 LLC

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