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Home Affordable Guidelines for Rental Income

If you own a rental property below is information you will want to know before you apply for your loan modification. This is for homeowners who are trying to modify their primary home, but may have other property they own. If you are trying to modify your investment home, it will not qualify under the government's Home Affordable, because under that program it needs to be your primary home. Lend Read More...

IRS Assumes AMT Patch Even Before Congress Changes the Law

In unprecedented action, the IRS has jumped the gun and changed its Alternative Minimum Tax form Form 6251 to reflect the current estimate of what the AMT exemption amount would be if and when Congress enacts this year's AMT patch. Individual taxpayers should proceed with some caution at this point, however, until the law actually is changed. While it is expected that the current logjam bet Read More...

Is Avoiding Income Tax Moral

The closest the Supreme Court has come to saying that "from whatever source derived" in the amendment expanded the taxing power of Congress was in Justice Holmes' dissent in Evans v Gore (253 U.S. 245, 267 (1920). (Holmes dissent) (Partially overruled by U.S. v Hatter. 532 U.S. 557 (2001), with respect to the prior reasoning about the compensation clause.)). In that case, the Court was considering Read More...

Answering your questions on Home Affordable Foreclosure Alternative program HAFA

What is a short sale? It is when you try to sell your home for less than what you owe and is sold at the lower price then what you owe the lender. What is the Eligibility for HAFA? You can request for a short sale or deed in lieu if you know you do not want to keep the home. However, if you do not qualify for a loan modification you may apply for HAFA. Under this program if you have entered into Read More...

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