If you’ve been following the news regarding the foreclosure crisis you’re probably familiar with the settlement between five of the nation’s largest mortgage lenders and 49 state attorneys general. The $25 billion settlement was reached as a means of preventing further litigation against the banks for alleged “illegal” foreclosures. Interestingly enough, the thousands of homeowners expected to receive cash from the settlement will also be subject to income tax on that money. That is, unless … Continue reading →