Romney Profited From Mortgage Foreclosures in Florida

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It seems that the Massachusetts millionaire, according to his tax returns, had profited from investments, in particular a Goldman fund that was chock full of mortgage backed securities. By extension, Gingrich claimed, Florida homeowners whose defaulted mortgages were part of that Goldman fund had been had been victims of foreclosure.

Developers are Crabgrass : An exclusive online report based on Romney financial disclosure proves informative. He campaigns in Florida while having profited highly from a Goldman sachs investment scheme that invested heavily in mortgage backed securities, which led to thousands of home foreclosures in Florida.

As far as the Internal Revenue Service is concerned, a foreclosure is the same as the sale of a property. The bottom line is that it once was yours and now it’s not. This means the event can trigger a capital gain or loss, and if any part of the mortgage debt is forgiven or canceled, income tax may be due on that amount as well.

EXCLUSIVE: Romney Profited From Mortgage Lenders Foreclosing On Thousands Of Floridians. Romney’s form says he has invested between $1,000,001 and $5,000,000 in the fund and his wife Ann has invested an additional $1 million-plus. Since the 2008 economic meltdown and the enactment of the Troubled Asset Relief Fund, this fund has done quite well, growing 7.88 percent between April 2010 and March 2011.

Allen West being redistricted out of existence in effort led by Romney Florida spokesman. profited from foreclosures.. what Gingrich said re mortgage foreclosures: Governor Romney owns share.

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ThinkProgress reported Wednesday that former Massachusetts Gov. Mitt Romney (R) has profited from thousands of Florida foreclosures through a Goldman Sachs investment fund. Former House Speaker Newt Gingrich (R) blasted Romney on the trail today for those investments, and re-upped those attacks in tonight’s CNN debate.