It appears that Americans are paying less on mortgages, credit cards, and other loans. New Jersey residents who are still facing foreclosure and bankruptcy may not agree, but overall, it appears that families are getting back on their financial feet. The question then...
Month: October 2012
New Jersey debt: Tax break on debt forgiveness may end soon
As we enter the last quarter of the year, Congress has yet to renew the Mortgage Forgiveness Debt Relief Act, which is set to expire on Dec. 31. This law provides that any amount of debt forgiven by a lender on a home mortgage loan is not taxable as income for those...
New Jersey may help some to stop foreclosure this quarter
When New Jersey was identified as one of 17 states that was hardest hit by the housing crisis, the federal government's Troubled Asset Relief Program gave New Jersey approximately $300 million to help people keep their homes. The program was slow in starting, but now...
New Jersey bankruptcy: Olympic wrestler files bankruptcy
New Jersey fans of the Olympics may remember Rulon Gardner. He won a gold medal for wrestling in the Olympics and later appeared on the reality television show "The Biggest Loser" in an attempt to lose weight and qualify for the 2012 Olympics. Over the years, Gardner...