Beginning with the 2012 tax bill (due in April 2013), the state Franchise Tax Board will require property owners to break down their property taxes into deductible and non-deductible portions. As many as 5 million California property-tax payers who have been taking the entire amount they pay off their state income taxes could see a …
California has expanded the pool of borrowers who could qualify for three programs aimed at helping families at risk of losing their homes, by making those who tapped their home equity or who took out loans after Jan. 1, 2009, eligible for assistance. The California Housing Finance Agency (CalHFA) is administering nearly $2 billion in …
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A mortgage recast is an adjustment in the monthly payment that makes the payment fully amortizing. The recast will be a payment increase when the existing payment is less than fully amortizing, and a payment decrease when the existing payment is more than fully amortizing. For example, let’s say your home loan has a balance …
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Foreclosures rise in July The latest foreclosure numbers carried a mixed message: They’re up 3.6% from the month before but down 9.7% from 12 months earlier. In July there were more than 325,000 foreclosure filings — including notices of default, auctions notices and bank repossessions. That is the 17th month in a row total filings …