Category archive for ‘Featured’ 
Minimum payments on my credit cards are OK, right?
by John C. Colwell on 12/07/09 | 1 Comment(s)
Well, if you are a banker, they are great! Consider though, that paying minimum payments and being satisfied with that staus quo, is precisely where the banks want you to be, stuck. Stuck, and stuck good. Take a look at the following figures, you may find them surprising. I find them SHOCKING!
$1000 balance, 18% interest, Read more>>
Tax Consequences of a Short Sale; the Bankruptcy ‘Cure’
by John O'Connor on 9/07/09 | 3 Comment(s)
Debts discharged in Bankruptcy are not taxable events.
With the housing market in turmoil, many are looking to a short sale as a way out from under a house that is rapidly declining in value. A true short sale or deed in lieu of foreclosure involves a forgiveness of debt. The borrower either sells or Read more>>
