answers for people! asked:


I’m creating a debt reduction plan, and one of the questions I have is this: is it better (financially) to eliminate mortgage debt before educational loan debt? I want to pay the least amount of interest so I would think the higher interest rate (mortgage) is what I should pay. However, there are tax advantages to both mortgage debt and school loan debt, and I’m not sure if I would be missing out on better tax advantages by keeping mortgage debt until I have eliminated school loan debt.

Any advice is appreciated.

Vanessa

natalya_sevastopol asked:


I ‘m tax preparer, and I did tax return for my client. I’m not sure that I did wright. I want to open Follow-up to case 30270 and fax 1099c, 1099A and Form 982.Can I do that? Can you help me for Federal and CA. It was the first house and two mortgage loans just for home. Client lost home. Please advise. Thanks

Norman

Kim N asked:


Recently My parents got a divorce and asked me to take over the mortgage payments, tax payments etc. We need to keep the house since I am the oldest (thank god I graduate college). I have 2 sisters and a brother to take care of. My mom might be getting lay-off soon too. The title was transfered to me and I’ve been making payments. We did not want to re-finance since the interest is now higher and that would cause the monthly payments to increase. We talked to the bank and they have not gotten back on whether they are willing to agree to a novation.

I’m a single female trying to take care of my siblings. Any advise would be great. PLEASE HELP.

Cody