Category Archives: Debt Consolidation

Breaks for Homeowners Likely to Expire in 2014

Congress has indicated that all the write-offs homeowners enjoyed in the past are set to expire at the end of the year and see no further relief any time soon. Last year, Congress decided at the last minute to extend assistance for mortgage debt and deductions for mortgage insurance payments. Currently, The House and Senate […]

Congress is Advised to Save Expiring Tax Break on Mortgage Debt

With a $1.3 billion tax break on write-offs of mortgage debt set to expire at the end of the year, homeowners’ and mortgage industry advocates are urging Congress to the tax break, even as lenders continue to cut loan principal in order to aid borrowers who continue to struggle making payments. The Mortgage Debt Relief […]

Homeowners Use Cash-in Refinancing to Pay Down Mortgages

Remember the old commercials urging people to turn their home equity into cash for new cars, vacations and other luxuries? Well, people are still cashing out, but for a different reason: to decrease the size of their home loan. MarketWatch reported today that “cash-in refinancing” is the new trend in which borrowers tap their home […]

Government Extends Home Affordable Refinance Program

The government announced yesterday that it would be extending its Home Affordable Refinance Program (HARP) that was scheduled to end on June 10 this year. The program, which was started to help troubled borrowers with little or no equity in their homes, will now continue till June 30, 2011.  HARP initially had a goal of […]