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Some tax issues to consider on mortgage write-downs (Washington Post)

With the Obama administration and private lenders actively considering mortgage principal-reduction programs to help financially distressed homeowners, the Internal Revenue Service has issued a new advisory to taxpayers who receive — or seek to receive — such assistance. The IRS gets involved in…

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Some tax issues to consider on mortgage write-downs (Washington Post)

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Government mortgage plan aids 16% of borrowers (USA Today)

The Obama administration’s mortgage relief plan has helped only about 16% of borrowers who signed up since its launch last year, while hundreds of thousands of homeowners remain in limbo.

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Government mortgage plan aids 16% of borrowers (USA Today)

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Owners of Stuyvesant Town to Default on Mortgage (WNYC New York Public Radio)

The owners of Stuyvesant Town and Peter Cooper Village have announced that they’ll default on their mortgage. The sprawling Manhattan property was purchased by Tishman Speyer and Black Rock Realty f….

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Owners of Stuyvesant Town to Default on Mortgage (WNYC New York Public Radio)

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Deduct reverse mortgage interest when house is sold (Orlando Sentinel)

Q: I have a reverse mortgage. Each month interest is computed and added to the unpaid balance. While this interest is not “paid” by virtue of a monthly payment as in a regular mortgage, I wonder if the addition of it to the outstanding balance constitutes “payment” by the Internal Revenue Service?

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Deduct reverse mortgage interest when house is sold (Orlando Sentinel)

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Cut taxes with early mortgage payment (Bankrate.com)

A little year-end attention to your mortgage payment could lower your upcoming Internal Revenue Service bill. Unlike rent, which you pay beforehand (i.e., your Jan.

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Cut taxes with early mortgage payment (Bankrate.com)

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Feds holding press conference about surge in mortgage fraud (Naples Daily News)

TAMPA — Federal authorities are using a series of news conference to talk about the surge in mortgage fraud in Florida. The U.S. Attorney’s Office has planned news conferences in Fort Myers and Tampa on Tuesday, and in Orlando and Jacksonville on Wednesday.

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Feds holding press conference about surge in mortgage fraud (Naples Daily News)

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Mortgage Brain to launch B2C sourcing system (Mortgage Introducer)

The new consumer facing sourcing system, mortgage Brain B2C, which is due to be launched in early 2010, is built using the latest Microsoft technology and will allow consumers to quickly and easily source, compare, select and enquire about mortgages that best suits their needs.

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Mortgage Brain to launch B2C sourcing system (Mortgage Introducer)

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New IRS form helps speed mortgage applications (The Frederick News-Post)

The Internal Revenue Service has issued a new form to aid the processing of mortgage applications under the Home Affordable Modification Program as part of the Making Home Affordable Program

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New IRS form helps speed mortgage applications (The Frederick News-Post)

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One-third of home mortgage applicants denied (The Record and Herald News)

Nearly one third of people who applied for a mortgage last year were denied, the Federal Reserve reported recently. The denial rate was up 29 percent from 2006 when approvals were highest. Last year’s denial rate was twice as high for African-Americans and Hispanics as it was for whites.

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One-third of home mortgage applicants denied (The Record and Herald News)

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UPDATE: IRS May Mine Mortgage Data To Flush Out Tax Cheats (Nasdaq)

WASHINGTON -(Dow Jones)- The Internal Revenue Service will expand a program designed to catch tax cheats by searching for inconsistencies between mortgage payments and income.

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UPDATE: IRS May Mine Mortgage Data To Flush Out Tax Cheats (Nasdaq)

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