DEAR BOB: We are two single women who have owned our home together and are thinking of selling. Each of us meet the two-out-of-last-five-years ownership and occupancy tests of Internal Revenue Code 121, which you often discuss. When we sell our home, can we each claim up to $250,000 tax-free profits (up to $500,000 total), or do we only get one $250,000 tax exemption? – Amy S.

DEAR AMY: Uncle Sam likes you so much he gives each qualified single co-owner up to $250,000 tax-free principal residence sale profits.  more...

A woman who was recently in the market for a new home discovered that her credit report was blemished, all because of a late payment on her existing home mortgage. This came as a surprise to her because she always paid her bills on time.

She contacted her bank immediately and reported the error. The bank acknowledged that a mistake had been made, and issued a letter stating this to the credit bureau. Even so, it can take a couple of months at least before a mistake like this is corrected.  more...