Doug Jones's (dougj) Blog

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Mortgage and Lending - Mortgage Magic

ARCHIVED BLOG POSTS

2011 

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Here are the numbers. On talk radio I hear all kinds of numbers thrown around and people comment that "so and so should pay more taxes !" I am not going to interpret them-- just the facts.   The top 1% earn 20% of the income. The bottom 50% of the population earns 12.8% of the income.   The top 1...
11/10/2011

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Yesterday Jefferson County in Alabama filed the largest Municipal Bankruptcy in U.S. history. The number is somewhere between $3 Billion and $4 Billion depending on which source you read.   How could a County bankruptcy in Alabama perhaps affect you if you live in Silicon Valley? For four years J...
11/10/2011

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I am not sure if this is a blog or a rant but today my frustration with the paper work for a Reverse Mortgage. The concept of a reverse mortgage is simple- get money from you home and never make a payment. Of course the balance will go up but you still don't pay.The qualification is simple. Be mo...
11/04/2011

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I have an architect friend who I encourage to write blogs on Active Rain and he always replies either he does not know what to write about or that he does not think his articles would be interesting. I listened to him talk to a group of people and someone asked him why we don't have basements in ...
11/02/2011

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If you sell a home short sale the bank may send you a 1099 that you need to report as income to the IRS. Suppose that you owe $500,000 on a home and it sells short for $400,000.The bank may send you a 1099 for $100,000 that you would show as reportable income.A client asked me this question. She ...
11/02/2011
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