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My wife and I are 57, live in California and recently lost our multimillion-dollar home in a landslide — but the bank still chases us for our $6,950 mortgage.
CalHFA was created by the Zenovich–Moscone–Chacon Housing and Home Finance Act of 1975, which also permanently established and reorganized the California Department of Housing and Community Development. [1] CalHFA was known as CHFA until 2002 when it was rebranded.
When you’re working toward Public Service Loan Forgiveness (PSLF), it’s helpful to submit the Employment Certification form every year to verify your employment (or at least every time you ...
The Mortgage Forgiveness Debt Relief Act of 2007 was introduced in the United States Congress on September 25, 2007, and signed into law by President George W. Bush on December 20, 2007. This act offers relief to homeowners who would have owed taxes on forgiven mortgage debt after facing foreclosure. The act extends such relief for three years ...
Keep in mind: The IRS treats forgiven debt as income, so you’ll need to report it on your tax return. Convert to a fixed-rate mortgage from an adjustable rate: The interest rate on an adjustable ...
“Forgiveness of student loan debt is generally taxable unless it meets one of the exclusions in California Revenue and Taxation Code sections, which includes an exclusion for income-based ...
Karatz was CEO for two decades while KB Home grew revenues from $491 million to $11 billion and annual home deliveries increased from 4,500 homes in 1986 to over 39,000 homes in 2006. In March 2013, Karatz was a recipient of The Malibu Times' 23rd Annual Dolphin Awards. [4] Karatz operates BK Capital LLC based in Beverly Hills, California.
When you owe more on your mortgage than your house is worth, the loan is referred to as 'underwater,' or in a state of negative equity. Having an underwater mortgage makes it harder to sell the ...