California Tax

swhite005hb · 02-25-2009, 12:40 AM

Has anyone that has foreclosed in 2009 looked into the possibility of receiving a tax bill from the California Franchise Tax Board? The mortgage debt forgiveness act was only extended federally...California's ended at the end of 2008.
Will even non-recourse loans be susceptible to the FTB tax bill?

cc123 · 02-26-2009, 09:18 PM

I'm really hoping someone could answer this too. I though we are all set to stop payment next month until this issue cropped up. We've paid the mortgage for March already. Hoping to get answers to that before April! Helppppp!

miked2023 · 06-22-2009, 11:01 AM

Bump for clarification .... ?

trappedincali · 06-22-2009, 12:02 PM

This has been discussed in the following thread:

California Bill Ab 111

I don't believe SB 97 has been voted on yet.

-Lee