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Foreclosure filings drop to five-year low in September

Discussion in 'Current Events' started by Iriemon, Oct 11, 2012.

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  1. theunbubba

    theunbubba Well-Known Member Past Donor

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    This post is so retarded I'll have to come back after work and destroy it at leisure. Laters.
     
    theunbubba, Oct 15, 2012
    #51
  2. Iriemon

    Iriemon Well-Known Member Past Donor

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    ^This post is so retarded I cannot believe I'm even writing a response to it.
     
    Iriemon, Oct 15, 2012
    #52
  3. Iriemon

    Iriemon Well-Known Member Past Donor

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    ^This post is so retarded I cannot believe I'm even writing a response to it.
     
    Iriemon, Oct 15, 2012
    #53
  4. way2convey

    way2convey Well-Known Member

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    You said it a bit tongue-in-cheek...oh really ? Then why say "If he were a white Republican, he'd be heralded as a savior"?

    Anyway, as to your point that conservatives didn't care when Bush was president, that to is BS. Many die-in-the -wool Rep's may not have cared, but conservatives opposed the prescription drug program and establishing the TSA as was done. They also had serious concerns about authority granted HLS and Bush & his congress spending money they didn't have. Bush had his good side, but he had his bad side. And, IMO, had the dem's put up a candidate worth his salt Bush wouldn't have had a second term.

    Oh well...all this is bit off topic so I'll ****.....
     
    way2convey, Oct 16, 2012
    #54
  5. Iriemon

    Iriemon Well-Known Member Past Donor

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    Actual data.
     
    Iriemon, Oct 16, 2012
    #55
  6. Iriemon

    Iriemon Well-Known Member Past Donor

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    I question whether he would be.

    They were small and quiet.

    Me too
     
    Iriemon, Oct 16, 2012
    #56
  7. cjm2003ca

    cjm2003ca Active Member

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    The main reason why foreclosure and short sales are down right now is that on jan 1 2013 the owner will be responsible for paying taxes on the money the banks write off as loses..so lets say you bought a house for 300,000 and it is worth 150,000 now and you sell it..minus 6 % comission for the realtor.you net 141,000..pay off your mortgage let say it was 275,000..you lost 134,000..you now haveto pay income taxes on this amount..31% due thAT year..good luck with that irs..we are broke
     
    cjm2003ca, Oct 16, 2012
    #57
  8. cjm2003ca

    cjm2003ca Active Member

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    The main reason why foreclosure and short sales are down right now is that on jan 1 2013 the owner will be responsible for paying taxes on the money the banks write off as loses..so lets say you bought a house for 300,000 and it is worth 150,000 now and you sell it..minus 6 % comission for the realtor.you net 141,000..pay off your mortgage let say it was 275,000..you lost 134,000..you now haveto pay income taxes on this amount..31% due thAT year..good luck with that irs..we are broke
     
    cjm2003ca, Oct 16, 2012
    #58
  9. Iriemon

    Iriemon Well-Known Member Past Donor

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    Do you have a source for that? That sounds bogus to me. I've never heard of having to pay a tax on a gain you didn't make.
     
    Iriemon, Oct 16, 2012
    #59
  10. Windigo

    Windigo Banned

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    Being a old enough this talk about how there is no recession and everything is getting better reminds me so much of how pathetic the first Bush was when trying to argue about the economy.
     
    Windigo, Oct 16, 2012
    #60
  11. Iriemon

    Iriemon Well-Known Member Past Donor

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    Do you have a source for that? That sounds bogus to me. I've never heard of having to pay a tax on a gain you didn't make.
     
    Iriemon, Oct 16, 2012
    #61
  12. cjm2003ca

    cjm2003ca Active Member

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    cjm2003ca, Oct 16, 2012
    #62
  13. Iriemon

    Iriemon Well-Known Member Past Donor

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    Or how about 2004?

    But it worked.
     
    Iriemon, Oct 16, 2012
    #63
  14. cjm2003ca

    cjm2003ca Active Member

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    this is part of the fiscal cliff that they are talking about if obama doesnt do something with..they ignore it now but it must be dealt with soon..
     
    cjm2003ca, Oct 16, 2012
    #64
  15. Iriemon

    Iriemon Well-Known Member Past Donor

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    Thanks, I wasn't aware of that. I could see why they would do that. I wonder if the income on the loan forgiveness would be offset on the loss on the sale of the house.

    But if someone took out a $100k second mortgage and blew it partying, if $100k of the loan is forgiven, I can see why it would be treated as income.
     
    Iriemon, Oct 16, 2012
    #65
  16. cjm2003ca

    cjm2003ca Active Member

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    and if you dont paythis on time you will be hit with a 25% penalty and 5 % interest until it is paid..and also if you reside in a state with state income tax you need to pay the taxes there too..this is why foreclosyres are down right now and short sales have stopped
     
    cjm2003ca, Oct 16, 2012
    #66
  17. Iriemon

    Iriemon Well-Known Member Past Donor

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    Do you ever get tired of being so dead on right all the time?
     
    Iriemon, Nov 7, 2012
    #67
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