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Pay Off Mortgage
Today TaxMama® hears from Larry with this concern. “At age 64, I am still working full time. My hours and pay rate have been reduced so that I now have a $ 600 + per month deficit. My mortgage payment...
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Reverse Mortgages
Today TaxMama® hears from Dave in the TaxQuips Forum, with this question. “How do we deduct interest on a reverse mortgage?” Dear David. You don’t. In a reverse mortgage, the homeowner isn’t...
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Amend it Now
Today TaxMama® hears from Jennie in the TaxQuips Forum, with a good question. “I took out a mortgage from a private party 4 years ago. They have never sent me a mortgage interest statement. Therefore,...
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Short Sale
Today TaxMama® hears from YbSick in the TaxQuips Forum, with a common question. “In a short sale where they abandoned the property and they receive a cancellation of debt, is it non-taxable since it...
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Carrying a Mortgage
Today TaxMama® hears from a couple of people in the TaxQuips Forum, with this problem this week. They have sold real estate on an installment sale. They have been the mortgage-holder. And after a...
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