California Tax - Loan Modification Forum

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

02-25-2009, 12:40 AM	#1 (permalink)
swhite005hb Member Join Date: Feb 2009 Posts: 19 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	California Tax 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?

02-26-2009, 09:18 PM	#2 (permalink)
cc123 Member Join Date: Feb 2009 Location: East bay, CA Posts: 27 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: California Tax 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!

06-22-2009, 11:01 AM	#3 (permalink)
miked2023 Senior Member Join Date: Mar 2009 Posts: 48 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: California Tax Bump for clarification .... ?

06-22-2009, 12:02 PM	#4 (permalink)
trappedincali Senior Member Join Date: Feb 2008 Posts: 89 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: California Tax This has been discussed in the following thread: California Bill Ab 111 I don't believe SB 97 has been voted on yet. -Lee

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