Finance

Have Finance Questions? Ask a Financial Expert Online.

Ask an Expert,
Get an Answer ASAP!

Finance
This answer was rated:

What is the latest news on the extension of the Mortgage Debt

Relief Act?...
What is the latest news on the extension of the Mortgage Debt Relief Act?
Ask Your Own Finance Question
Answered in 4 minutes by:
1/9/2013
Lane
Lane, JD, CFP, MBA, CRPS
Category: Finance
Satisfied Customers: 13,268
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
Verified

NPVAdvisor :

Hi I can help with this ... let me check something BRB

NPVAdvisor :

As part of the law passed as a last minute escape of the so-called fiscal cliff, Congress extended the Mortgage Forgiveness Debt Relief Act to the great relief of homeowners who’ve suffered foreclosure.

NPVAdvisor :

you there?

NPVAdvisor :

By the way both short sales AND deeds in Lieu were covered

NPVAdvisor :

Here's


A good article on it

Customer:

Excellent. Is the extension the same as the previous law? What kind of debt does it cover?

NPVAdvisor :

Yes the law was essentially expended as it was ...

NPVAdvisor :

Not only are foreclosures covered ...

NPVAdvisor :

But Short Sales and Deeds in Lieu, as well

NPVAdvisor :

here are two good articles

NPVAdvisor :

http://www.cbsnews.com/8301-250_162-57561752/obama-signs-fiscal-cliff-bill-into-law/

NPVAdvisor :

and

NPVAdvisor :

A good article from Lawyers.com

NPVAdvisor :

sorry for the type (exTended)

Customer:

Excellant help. I will use you again and tell others about the web site. Thanks, XXXXX - IBR Realty. Cokato, Mn

NPVAdvisor :

Thank you Paul

NPVAdvisor :

To ask for me again, just say “For NPVAdvisor” at the beginning of your question


OR


Go here: NPVAdvisor and enter it in the question box


Thanks,

NPVAdvisor :

Lane

NPVAdvisor :

Is Cokato close to the Twin Cities?

Lane
Lane, JD, CFP, MBA, CRPS
Category: Finance
Satisfied Customers: 13,268
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
Verified
Lane and 87 other Finance Specialists are ready to help you
Ask your own question now


Thanks for the feedback Paul.


Have a great day!

Lane

Ask Your Own Finance Question
Ask Lane Your Own Question
Lane
Lane
Lane, JD, CFP, MBA, CRPS
Category: Finance
Satisfied Customers: 13,268
13,268 Satisfied Customers
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986

Lane is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Rakhi Vasavada

Rakhi Vasavada

Financial and Legal Consultant

2,608 satisfied customers

Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years

Megan C

Megan C

Certified Public Accountant (CPA)

2,218 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

Manal Elkhoshkhany

Manal Elkhoshkhany

Tutor

1,920 satisfied customers

More than 5000 online tutoring sessions.

JKCPA

JKCPA

CPA

844 satisfied customers

Bachelors degree and CPA with Accounting experience.

Eric

Eric

Financial Manager

559 satisfied customers

Loan servicing, counseling and real estate expert. Foreclosure Expert and Financial Planner.

R. Klein, EA

R. Klein, EA

Accountant

480 satisfied customers

TurboTax Expert. QuickBooks Certified Pro Advisor

Dimitry K., Esq.

Dimitry K., Esq.

Attorney

332 satisfied customers

NASD Licensed Rep, 1997-2001, Business Attorney

< Previous | Next >

Related Finance Questions
Will here from OKC OK My Question is about Finance What is
Hello Will Johnson here from OKC OK My Question is about Finance What is allowed on my Balance Sheet I own a Real Estate Management Company And I have 42 Clients that I have Sold Investment Grade Real… read more
Lane
Lane
JD, CFP, MBA, CRPS
13,268 satisfied customers
I am 65 years old, with 35000 credit card debt. i have
i am 65 years old, with 35000 credit card debt. i have retired already, but working another job and I plan to retire completely in 2 years, if my health holds up. I have savings of 36000 dollars, and … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I am preparing the 1099 forms for my contractors. I lived in
I am preparing the 1099 forms for my contractors. I lived in Texas 10 months and the last two months of 2017 moved to California. While preparing the forms I ran into two dilemmas: Shall I use my Cali… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Could someone do some maths calculations for me in relation
Could someone do some maths calculations for me in relation to how much my rent might cost versus other income I have .I'm not very good at maths… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
When applying for a student loan financial aid, how much
When applying for a student loan financial aid, how much does your credit score play in the decision and what if you have a bankruptcy ??… read more
emc011075
emc011075
Senior Tax Specialist
Bachelor's Degree
16 satisfied customers
I run a US based LLC and am unsure what transactions I can
I run a US based LLC and am unsure what transactions I can put on our company card that are kosher for the IRS.For instance, can I include company dinners with employees or prospects on it? Can I incl… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,282 satisfied customers
I have moved several times during the past two years and not
I have moved several times during the past two years and not sure that IRS have had my most recent address. If I am audited -- would IRS send me a written notifaction to the address they have on my au… read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,804 satisfied customers
Whats the current status of the triple tax free Municipal
whats the current status of the triple tax free Municipal bonds? are bond prices going down as interest rates go up? is this a good time to buy tax free municipal bonds? I see some online banks offeri… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I do have a question. I'm trying to buy an RV and I received
I do have a question. I'm trying to buy an RV and I received a Motor Vehicle Purchase Order - Simple Interest. It shows the dealership as the creditor/seller and list finance charges, etc. But, it als… read more
PDtax
PDtax
Owner
Master\u0027s Degree
1 satisfied customers
Should I just delete all the rental property info from that
Ok, so should I just delete all the rental property info from that 2016 1065 as those assets are what caused the forms not to balance. I only has some income from the rentals for that month.… read more
PDtax
PDtax
Owner
Master\u0027s Degree
1 satisfied customers
I am a tax preparer doing tax returns specially for non
Hello, I am a tax preparer doing tax returns specially for non residents,1040NR. My clients are students who work in the US for the summer on a J1 visa,and they return to they country in Europe. So ,u… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I have small, tiny business that is freelancing. and I am
I have small, tiny business that is freelancing. and I am thinking to get business register. But I have a full time job as well, and I am not sure which company structure I should choose for tax benefit for myself. … read more
Carter McBride
Carter McBride
LLM
252 satisfied customers
How are we supposed to track and report clergy stipends.
How are we supposed to track and report clergy stipends. Background: We did not report our priests income with our payroll, now we are asked to give them a W-2. How are we supposed to track and report… read more
TaxRobin
TaxRobin
Vocational, Technical or Trade School
1 satisfied customers
Thanks for the quick turn around. question how are gifting
Thanks for the quick turn around. A follow up question how are gifting cryptos in 2017 taxed? I bought few litecoins and the value appreciated . I transferred the litecoins to my Brother as i owe him … read more
Carter McBride
Carter McBride
LLM
252 satisfied customers
I operate a small LLC that provides wedding officiant
Hello. I operate a small LLC that provides wedding officiant services. The LLC is in North Carolina and I now live in California. My two adult children have been helping me by officiating some wedding… read more
taxmanrog
taxmanrog
Master\u0027s Degree
776 satisfied customers
I received a lump sum distribution from Social Security in
I received a lump sum distribution from Social Security in December 2017 for the time period since I turned 66, April 12, 2016, because I have just filed. I chose the lump sum distribution over the in… read more
Lane
Lane
JD, CFP, MBA, CRPS
13,268 satisfied customers
I live in Vermont. I have a pension being a State of Vermont
I live in Vermont. I have a pension being a State of Vermont employee. I want to get my social security in 4 months when I'm 62. How much do I pay in taxes with combing both of them … read more
Lane
Lane
JD, CFP, MBA, CRPS
13,268 satisfied customers
Bookkeeping for a Personal Injury Attorney Some bills they
Bookkeeping for a Personal Injury AttorneySome bills they receive are for their client's costs that won't be paid until settlement (some times a year later). What makes the most sense for how/where to… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
513 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x