A New York couple got an early Christmas present when an angry judge wiped out their half-a-million dollar mortgage. The judge's ruling eliminated both the $291,000 owed in principal and the $235,000 owed in interest and penalties.

Calling the bank's behavior 'harsh, repugnant, shocking and repulsive,' Judge Jeffrey Spinner cancelled the $525,000 debt. Now Greg and Diane Yano-Horoski own their smart home on Long Island, New York free and clear.

It's the million dollar question, and it's a heated topic of conversation after years of turmoil in the nation's housing markets -- Will housing markets ever recover?

The question is talked about and debated around water coolers, business offices and even corporate board rooms and seems to have a constant flow of interest in forums on the Internet. The short answer is "Yes in some places, and not so much in others."

According to a recent article in NuWire, more homebuyers are buying REOs (foreclosed homes.)

The article cites low prices and foreclosure bargains as the main reason buyers purchase foreclosures.

The article says a bit more than half (57.6%) of those polled plan to live in the property they’re buying, while slightly less than half (42%) are looking at the home as an investment.

We are happy to confirm that the $8,000 first-time home buyer tax credit has in fact been extended.

The tax credit, originally set up as a no-interest loan back in 2008, was converted this year as a full tax credit as part of the stimulus package for "first-time" buyers only.  The new law extends the tax credit to all sales up to April 30, 2010, and extends the credit to existing home owners as well.

According to the Associated Press, the House voted 403-12 in favor of the law granting the extension.

Kanye West is somewhat infamous for his ego. So when photos of a mural in Kanye's Los Angeles house showed up on the web, there was some speculation that the mural was of "Kanye as God."

This rumor is debunked in a Celebitchy post.