Types Of Bankruptcy

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Some, but not all, will benefit from mortgage bailout law (Santa Cruz Sentinel)  WATSONVILLE - Federal legislation signed by the president Thursday aims to bolster the lagging housing market, but whether it will help local homeowners behind on their mortgage payments remains to


Taiwan Shares End Flat  Associated Press Taiwan Shares End Flat 05.09.2005, 04:17 AM Taiwan's shares ended little changed Monday as investors took a breather after sharp gains in the previous two sessions, though technology


Mortgage rates are mixed bag; 30-year steady (KATU Portland)  Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.52 percent for the week ending Aug. 7. That was the same as last week's rate, which marked


Reform and Renewal - Where's the check?  As I wrote in this morning's Capitol Fax, I don't think that this is a particularly huge deal Gov.Commentread more...


Developer Found Dead  Andrew Kissel, the real estate developer charged with defrauding mortgage lenders and stealing from a co-op, was found dead Monday in his home with multiple stab wounds, less than three

May 12th, 2006

‘Losing’ Capital Gains

DEAR BOB: We must sell our house of 21 years. The profit will be about $625,000. My wife and I are aware that $500,000 of that amount will be tax-free, thanks to Internal Revenue Code 121. However, my insurance agent told me that if we buy a replacement principal residence of equal or greater cost, we could avoid paying tax on the additional $125,000 capital gain. Is this true?

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