Emergency Economic Stabilization Act – The $700 billion approved by the Congress will allow the Treasury to purchase troubled assets from financial institutions, help mitigate foreclosures, strengthen FHA insured refinance loans, and extend tax exempt debt forgiveness on home loans until 2012.
Debt Relief Forgiveness from State Income Tax - Beginning September 25, 2008 the debt forgiveness on home loans also applied to state income taxes. Under California law, the maximum qualifying debt is $800,000, not $2 million. The maximum exclusion is $250,000. California law applies only to debt discharged in 2007 or 2008.
Tenant Victimized by Domestic Violence Can Terminate Tenancy - Beginning September 27th, a tenant can terminate a tenancy upon giving a 30 day notice to terminate, if the written notice informs the landlord that domestic violence is the reason. A copy of the restraining order must be included with the tenant’s request.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment