As far as the Internal Revenue Service is concerned, a foreclosure is the same as the sale of a property. The bottom line is that it once was yours and now it’s not. This means the event can trigger a capital gain or loss, and if any part of the mortgage debt is forgiven or canceled, income tax may be due on that amount as well.
contrasts that exist between he and his opponent, Mitt Romney. Obama also. Federal student loan default rates are rising ever higher, with the worst. for- profit schools who began repayment in 2009 defaulted. of bank foreclosures among
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When eventually large numbers of home buyers defaulted, many foreclosures in Florida and elsewhere in the U.S. were filed on behalf of Deutsche Bank, which held title to the homes on behalf of owners.
As few as 19 of those 186 clients still own homes with clean credit ratings, Nonetheless, Obama has pursued the same top-down mortgage. on big banks,” Obama says of his republican challenger mitt romney in a.. risky mortgages were being used as collateral for high-tech, high-profit stock trades.
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Genworth Financial Inc., the mortgage guarantor and life insurer, reported a third-quarter profit that. particularly in Florida,” Fraizer said in the statement. Mortgage insurers, which pay lenders.
Romney Profited From Mortgage Foreclosures in Florida The Songbird and the Spy blog tour and giveaway – janicesbookreviews Chick-fil-A of Robinson Daily Notebook: May 8
Gingrich has said he was a consultant for Freddie Mac, the federally backed mortgage company that played a significant role in the housing crisis. Romney said Gingrich should return the more than $1.6 million he made from the company. While Romney criticized Gingrich, Romney also profited from investments in Freddie Mac.
Gingrich Opens Up New Line of Attack on Romney. Speaking before the latest of a series of rallies organized by Tea Party groups in Florida, Mr. Gingrich aggressively courted the movement’s support now that earlier tea party favorites, including Herman Cain and Michele Bachmann, have dropped out.
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Speaking at a Sunday fundraiser in Palm Beach, Florida, Mitt Romney stopped being polite and started getting specific. "I’m going to probably eliminate for high income people the second home mortgage.
Confronted At Debate, Romney Does Not Dispute He Profited From Foreclosures In Florida. By Travis Waldron /Think Progress.