Changes to tax relief for residential landlords, mortgage relief act.#Mortgage #relief #act


Changes to tax relief for residential landlords

The tax relief that landlords of residential properties get for finance costs will be restricted to the basic rate of Income Tax, this will be phased in from April 2017.

Mortgage relief act

The amount of Income Tax relief landlords can get on residential property finance costs will be restricted to the basic rate of tax.

The changes will:

  • affect you if you let residential properties as an individual, or in a partnership or trust
  • change how you receive relief for interest and other finance costs
  • be gradually introduced over 4 years from April 2017

Finance costs won’t be taken into account to work out taxable property profits. Instead, once the Income Tax on property profits and any other income sources has been assessed, your Income Tax liability will be reduced by a basic rate ‘tax reduction’. For most landlords, this’ll be the basic rate value of the finance costs.

Who’ll be affected

You’ll be affected if you’re a:

  • UK resident individual that lets residential properties in the UK or overseas
  • non-UK resident individual that lets residential properties in the UK
  • individual who let such properties in partnership
  • trustee or beneficiary of trusts liable for Income Tax on the property profits

All residential landlords with finance costs will be affected, but only some will pay more tax.

You won’t be affected by the introduction of the finance cost restriction if you’re a:

  • UK resident company
  • non-UK resident companies
  • landlord of Furnished Holiday Lettings

You’ll continue to receive relief for interest and other finance costs in the usual way.

What’s included under the finance cost restriction

The finance costs that will be restricted include interest on:

  • mortgages
  • loans – including loans to buy furnishings
  • overdrafts

Other costs affected are:

  • alternative finance returns
  • fees and any other incidental costs for getting or repaying mortgages and loans
  • discounts, premiums and disguised interest

If you take a loan for both residential and commercial properties, you’ll need to use a reasonable apportionment of the interest to work out your finance costs for the residential properties. Only the finance costs for the residential property business are restricted. This also applies if your loan was partly for a self-employed trade and partly for residential property.

Phasing in the restriction

The restriction will be phased in gradually from 6 April 2017 and will be fully in place from 6 April 2020.

You’ll still be able to deduct some of your finance costs when you work out your taxable property profits during the transitional period. These deductions will be gradually withdrawn and replaced with a basic rate relief tax reduction.

You’ll be able to use some of your finance costs to work out your property profits and use your remaining finance costs to work out your basic rate tax deduction:


How Cutting Mortgage Interest Relief Affects You, GRL Landlord Association, mortgage relief act.#Mortgage #relief #act


How Cutting Mortgage Interest Relief Affects You

Mortgage relief act

Chancellor George Osborne has decreed there’s no going back on the new cuts in tax relief on mortgage interest payments for landlords paying higher rate tax.

According to the draft Finance Act 2015, this is how the calculation will work.

The example takes a landlord earning a £30,000 salary and £35,000 in rents currently offsetting £28,000 in mortgage interest relief as a property business expense.

From April 2016, this relief will be phased out over four years to a tax credit of 20% of mortgage interest paid.

The table below shows how this will change the amount of income tax our landlord pays between the 2016 and 2020 tax years.

Salary and rental income for 2020 have been increased to reflect higher earnings and rents over the intervening period. Mortgage interest stays the same, although rates will inevitably rise before April 2020.

The crucial point is our landlord makes a £7,000 rental profit in 2016 after offsetting mortgage interest.

In 2020, this taxable profit becomes £30,400. The change in tax relief makes our landlord a higher rate taxpayer, and although the mortgage interest tax credit reduces some of the higher rate tax due, income tax is still 75% higher in 2020 than in 2016.

The tax credit is calculated as 20% of the lowest of:

  • Finance costs not subtracted from income – £28,000
  • Property business profits – £38,000
  • Income exceeding allowances £60,500

Landlords should act now to work out how the tax shock will affect their businesses, as they have four years to plan.

Unfortunately, they can take limited action to counter the tax increase. Options include:

  • Switching buy to let properties into a company – but this triggers capital gains tax and stamp duty
  • Switching buy to lets to holiday lets – only optional in some areas
  • Converting buy to lets to commercial property – again a limited option
  • Selling to a private home buyer – again a capital gains tax trigger

Mortgage Interest Tax Relief – An Example


Breitbart TV Articles, obama mortgage relief.#Obama #mortgage #relief


Breitbart TV

Obama mortgage relief

Defiant Roy Moore Castigates Washington Post, Mitch McConnell at #StandWithRoyMoore Event

BIRMINGHAM, Alabama – On Thursday surrounded by supporters, former Alabama Supreme Court Chief Justice Roy Moore went on offense at an event titled #StandWithRoyMoore, with the media and Senate Majority Leader Mitch McConnell as his targets. Moore attacked The Washington

by Jeff Poor 16 Nov 2017, 1:30 PM PST 0

Obama mortgage relief

WATCH Netanyahu: Iran s Rejection of Israeli Aid for Earthquake Proves It Doesn t Care For Its Citizens

TEL AVIV The Iranian regime cares more about hating Israel then taking care of its own people which is why the Jewish state offered assistance in the wake of the earthquake, Prime Minister Benjamin Netanyahu said on Thursday.

by Deborah Danan 16 Nov 2017, 12:19 PM PST 0

Obama mortgage relief

Maxine Waters: I Inspire People By Calling for Trump s Impeachment

Thursday on Bloomberg, Rep. Maxine Waters (D-CA), said when she calls for President Donald Trump to be impeached, she inspires people. Waters said, Let me just say this I have learned over the years that I have been in this

by Pam Key 16 Nov 2017, 10:02 AM PST 0

Obama mortgage relief

Ricky Williams to Kaepernick: Move on From the NFL if You Aren t Wanted

Former NFL running back Ricky Williams said that it was time for Colin Kaepernick to move on from the NFL. I d rather be somewhere I m celebrated rather than where I m tolerated, Williams told TMZ Sports. If they don t want you, go do something

by Trent Baker 16 Nov 2017, 8:18 AM PST 0

Obama mortgage relief

GOP Sen Johnson: I Doubt Roy Moore Would Be Serving as Senator for Very Long, He Needs to Face That Reality

Thursday on CNN s New Day, Sen. Ron Johnson (R-WI) said if former Alabama Supreme Court Chief Justice Roy Moore won the special election for U.S. Senate he would not be serving for very long. Johnson said, The allegations sound pretty credible to me.

by Pam Key 16 Nov 2017, 8:12 AM PST 0

Obama mortgage relief

Fmr Gadsden Mall Manager on Roy Moore: To My Knowledge, He Was Not Banned From the Mall

In an appearance on Birmingham FOX affiliate WBRC6 on Wednesday, Barnes Boyle, who was the manager of the Gadsden Mall from 1981 to 1996, said he had no memory of former Alabama Supreme Court Justice Roy Moore being banned from

by Jeff Poor 16 Nov 2017, 7:47 AM PST 0

Obama mortgage relief

Allred on Whether Yearbook Signature Is Forgery: We re Not Addressing and Analysis Should Be Done in Professional Setting

Wednesday, on The Situation Room with Wolf Blitzer on CNN, Gloria Allred, the attorney for Roy Moore accuser Beverly Nelson, said that she s not addressing whether the yearbook signature her client put forward is legitimate, but will allow it to

by Breitbart TV 16 Nov 2017, 7:15 AM PST 0

Obama mortgage relief

NRCC Chair Stivers: I ve Asked Moore for My Money Back, I Believe the Women and Think Moore Should Step Aside

On Thursday s broadcast for CNN s New Day, National Republican Congressional Committee Chairman Representative Steve Stivers (R-OH), who attended a fundraiser for Alabama Republican Senate nominee Judge Roy Moore and donated money to Moore s campaign, stated he believes Moore s accusers, has asked for his

by Ian Hanchett 16 Nov 2017, 6:19 AM PST 0

Obama mortgage relief

Hillary: Calls for Investigation Into Me Personally Offensive It Would Be Abuse of Power Like In a Dictatorship

During an interview with Mother Jones released on Wednesday, former Democratic presidential nominee Hillary Clinton slammed Attorney General Jeff Sessions considering a special counsel to investigate her and President Trump urging the Department of Justice to investigate her as an abuse

by Ian Hanchett 15 Nov 2017, 8:12 PM PST 0

Obama mortgage relief

Hannity: Voters of Alabama Will Ultimately Decide on Moore, Not Me or Anyone Else

On Wednesday s broadcast of the Fox News Channel s Hannity, host Sean Hannity responded to the open letter Alabama Republican Senate nominee Judge Roy Moore wrote him in response to the ultimatum Hannity gave Moore on Tuesday to either clear up the inconsistencies in

by Ian Hanchett 15 Nov 2017, 7:28 PM PST 0

Obama mortgage relief

Dem Rep Gutierrez: I Think a Majority of Democrats Would Vote to Impeach Trump If There Was a Secret Ballot

On Wednesday s broadcast of MSNBC s All In, Representative Luis Gutierrez (D-IL), who signed on to an impeachment resolution against President Trump, stated that he thinks a majority of House Democrats would vote to impeach President Trump if there was a

by Ian Hanchett 15 Nov 2017, 6:41 PM PST 0

Obama mortgage relief

Dem Sen Gillibrand: If Disgusting Moore Elected, There Will Be an Outcry From Senators Who Do Not Want Him to Serve

Wednesday on MSNBC, Sen. Kirsten Gillibrand (D-NY) said if former Alabama Supreme Court Chief Justice Roy Moore wins the December 12 special election for U.S. Senate, there will be an outcry of members of the Senate who do not want him to serve.

by Pam Key 15 Nov 2017, 3:58 PM PST 0

Obama mortgage relief

Susan Collins: Ethics Committee Investigation Could Lead to Moore Expulsion

Wednesday on MSNBC s MTP Daily, Sen. Susan Collins (R-ME) said while she believes the Senate would have no choice but to seat former Alabama Supreme Court Chief Justice Roy Moore if he wins the special election in Alabama for U.S.

by Pam Key 15 Nov 2017, 3:50 PM PST 0

Obama mortgage relief

Roy Moore Lawyer Raises Questions About Accuser Account, Wants Yearbook for Handwriting Analysis

HOOVER, Alabama Wednesday at a press conference in front of the Alabama Republican Party headquarters, Phillip L. Jauregui, a Birmingham lawyer representing former Alabama Supreme Court Chief Justice Roy Moore s U.S. Senate campaign, questioned the account of one of

by Jeff Poor 15 Nov 2017, 3:44 PM PST 0

Obama mortgage relief

CNN s Raju: Source Close to POTUS Told Me It s Unlikely Trump Will Call on Moore to Drop Out

CNN Senior Congressional Correspondent Manu Raju reported that a source close to the president told him President Trump is unlikely to call on Judge Roy Moore to drop out of the Alabama Senate race. Raju said, President Trump himself has


Mortgage Release™ (Deed-in-Lieu of Foreclosure): Fannie Mae, mortgage relief program.#Mortgage #relief #program


Mortgage Release™ (Deed-in-Lieu of Foreclosure)

What is a Mortgage Release?

A Mortgage Release is where you, the homeowner, voluntarily transfer the ownership of your property to the owner of your mortgage in exchange for a release from your mortgage loan and payments. Options are available (sometimes with a relocation incentive) to help you leave the home immediately; stay in the home for up to three months without paying rent; or lease the home (at market rates) for up to one year. Depending on your situation, you may be required to make a financial contribution to receive a mortgage release.

A Mortgage Release is an alternative to foreclosure and should be considered if:

  • You are ineligible to refinance or modify your mortgage
  • You are facing a long-term hardship
  • You are behind on your mortgage payments or will fall behind in the near future
  • You owe more on your home than it’s worth
  • You don’t want to sell your home or haven’t been able to sell your home
  • You can no longer afford your home and you are ready to leave

What are the benefits of a Mortgage Release?

  • Eliminate your remaining mortgage debt
  • Avoid the negative impact of a foreclosure
  • May be eligible for up to $3,000 relocation assistance in some cases (or up to $10k in CT, DC, IL, MA, MD, NJ, NY or PA)
  • Start repairing your credit sooner than if you went through a foreclosure
  • May be eligible for a Fannie Mae mortgage to purchase a home sooner (in as little as 2 years) than if you went through foreclosure (up to 7 years)
  • Flexible exit options let qualified homeowners (or their tenants) leave the home immediately, or consider other ways to transition out

What is the process for Mortgage Release?

To qualify for Mortgage Release, you’ll work with your mortgage company to:

  • Complete the eligibility process, such as determining the value of the property and how much you still owe as well as reviewing your current hardship
  • Review the options available under Mortgage Release (your mortgage company will help you choose the best option for your situation)

A mortgage release usually takes around 90 days to complete, but this could be shorter or longer depending upon your specific situation.

Your next steps depend on which option you’ve qualified for. These include immediately vacating the home, staying in the home for up to three months (no rent), or leasing the home (paying market-based rent monthly) for up to one year.

Additionally, when you vacate the home at the agreed-upon date, you are required to leave the home—inside and outside—in good condition, free of interior and exterior trash, debris or damage, and all personal belongings must be removed. In some cases, you may be eligible to receive up to $3,000 relocation assistance to use toward your moving expenses and to make the transition to new housing easier.

Next steps

Mortgage relief program

Gather your financial information—Make sure you have your basic financial and loan information on hand when you call your mortgage company. You’ll need:

  • your mortgage statements, including information on a second mortgage (if applicable);
  • your other monthly debt payments (e.g., car or student loans, credit card payments); and
  • your income details (paystubs and income tax returns).

Mortgage relief program

Explain your current situation—Be ready to outline your current hardship and explain why you are having trouble making your mortgage payment, why this is a long-term problem and confirm that you are ready to leave your home to avoid foreclosure. Your mortgage company will need to understand the reasons why you are having difficulty in order to find the right solution for you.

Mortgage relief program

Contact your mortgage company or the Fannie Mae Mortgage Help Network—Tell them you are interested in a Mortgage Release and you want to see if you qualify.

Your mortgage company wants to help you avoid foreclosure and, in most cases, will be willing to work with you. The biggest mistake you can make is to wait any longer to take action. Contact your mortgage company today to determine if you are eligible for a Mortgage Release. If you need further assistance (before or after contacting your mortgage company), contact a Housing Counselor.

Silko – Homeowner

Carmen – Housing Counselor

Karen – Housing Counselor


Government Mortgage Relief Programs, mortgage relief.#Mortgage #relief


Government Mortgage Relief Programs

Government Mortgage Relief Programs

The purpose of a mortgage loan modification is to get your monthly payment to a more affordable level. An “affordable” mortgage payment is typically defined as 31% of the borrower’s monthly gross income. This is achieved by modifying one or more components of your mortgage:

  • Lowering the interest rate
  • Extending the life of the loan
  • Lowering the loan principle

Home Affordable Refinance Program (HARP)

Many homeowners pay their mortgages on time, but are not able to refinance to take advantage of today’s lower mortgage rates, mainly due to a significant decrease in the value of their home. A Home Affordable Refinance will help borrowers refinance their first mortgage even if the balance owed is more than 100% of the home value. For example, let’s say the amount you owe on your first mortgage is $500,000. You may be able to refinance even if the home value is now only $400,000.

Hardest Hit Fund (HHF) Programs

The US Treasury administers the Hardest Hit Fund, which provides aid to the states that were most impacted by the economic crisis. Each of these states have local agencies that help homeowners in various ways, including mortgage payment assistance for the unemployed, principal reduction, and transactional assistance. This helps people either afford the homes they’re in, or move to more affordable housing.

Home Affordable Unemployment Program (UP)

The Home Affordable Unemployment Program reduces or suspends mortgage payments for 12 months or more for homeowners who are unemployed. If you qualify, your mortgage payments may be reduced to 31% of your income or fully suspended.

Principal Reduction Alternative (PRA)

The Principal Reduction Alternative encourages your mortgage lender to reduce the amount of principal you owe. Currently there are over 100 loan servicers participating in this program.

FHA Home Affordable Modification Program (FHA-HAMP)

The Home Affordable Modification Program, or HAMP, has helped many homeowners lower their payments and save their homes from foreclosure. The Federal Housing Administration has a HAMP program targeted specifically for the loans they insure.

The Home Affordable Foreclosure Alternatives (HAFA) Program

The Home Affordable Foreclosure Alternatives (HAFA) program is for borrowers who, although eligible for the government Home Affordable Modification Program (HAMP), are not able to secure a permanent loan modification or cannot avoid foreclosure. HAFA provides protection and money to eligible borrowers who decide to do a Short Sale or a Deed-in-Lieu of Foreclosure.

Second Lien Modification Program (2MP)

The Second Lien Modification Program helps homeowners with a second mortgage on their home. This applies to properties where the first mortgage was modified under the Home Affordable Modification Program (HAMP).


Federal Harvey Relief Funds Might Take Years, Officials Say, federal mortgage relief.#Federal #mortgage #relief


Federal Harvey Relief Funds Might Take Years, Officials Say

It could be months, if not years, before southeast Texans and scores of counties and cities receive federal funds to pay for the long-term rebuilding and recovery of homes and communities battered by Hurricane Harvey s epic rains.

Federal Emergency Management Agency money for short-term relief like debris removal and some house repairs is already flowing to people and government agencies. But state lawmakers were told Monday that Housing and Urban Development disaster relief funds, which includes money for extensive home repairs or rebuilds, could take seven to 32 months to work their way through bureaucratic processes and several layers of government agencies.

RELATED

It could be some time, Texas Land Commissioner George P. Bush told the House Urban Affairs Committee.

That panel and the House Appropriations Committee met simultaneously Monday on the University of Houston campus to discuss local, state and federal responses to the worst rainfall event in U.S. history. And some officials and experts said they are already starting to worry that countless Texans will lose personal wealth they d accumulated, slide deeper into poverty or become homeless.

We may have a new crisis on our hands, State Rep. Diego Bernal, D-San Antonio.

People affected by disasters receive HUD disaster relief funds, which are distributed as grants from various government agencies and non-profits. Before the government agencies can disperse the money, they must develop an action plan that HUD approves. The public must also have a chance to comment on the plan, a process that can take 30 to 60 days. Texas officials have asked that time period be reduced to seven days.

State officials told lawmakers that immediate FEMA payments are for homes that are up to 50 percent damaged. Long-term HUD disaster relief funds cover homes damaged beyond that threshold, they said.

Beth Van Duyne, the regional HUD administrator for Texas and four other states, said the agency is working to fast-track all processes.

What we re trying to do is make those time periods in between as tight as possible, realizing people need help today, she said in an interview with The Texas Tribune last month.

The funds also come with certain limitations on how they can be spent and who should receive them. Congress approved $7.4 billion in HUD disaster relief funds last month. But that may have to be shared with Florida and Puerto Rico, which have each been hit by hurricanes in the weeks after Harvey battered Texas, unless legislators approve another aid package.

State officials said it could be November before HUD releases allocations and the stipulations on how such funds can be spent. From there, the state s General Land Office plans to work with metropolitan planning organizations to develop disbursement plans and determine how to divvy money up across such a wide swath of the state.

Some southeast Texas officials say they want the HUD funds to come directly to cities and counties, not flow through the state land office and metropolitan planning groups before getting to local governments.

Dickinson Mayor Julie Masters, whose town of about 20,000 is southeast of Houston, fears the region s biggest metropolitan planning organization will send the bulk of funds to larger urban areas like Houston and Harris County.

And then we all get a crumb at best, she said of the scores of smaller communities also devastated by flooding but that have gotten much less media attention.

Houston and Harris County officials also raised concerns with the steps federal relief funds must take to reach to local governments. Houston Mayor Sylvester Turner urged state leaders to send the money directly.

Harris County Judge Ed Emmett echoed Turner s comments.

Fewer hands that touch the money, the better, he said. Direct allocations are better.

The reaction from local officials foreshadowed how determining the amount of money various cities and counties receive could become a political minefield.

This is going to be a sensitive issue, to be very candid with you, Bush told lawmakers Monday.

Bush said as officials await HUD s decisions on allocations and accompanying stipulations, his office is working with several Texas universities collecting data on the extent of storm and flood damage so they will already have a good idea about overall needs.

Meanwhile, some local officials and advocates told lawmakers they re worried about the long-term impact of the storm on vulnerable Texans. Baytown Mayor Stephen DonCarlos said many residents in his town of about 75,000 aren t poor enough to qualify for some federal aid programs, but aren t wealthy enough to make mortgage payments on damaged houses while paying rent for temporary housing.

We are anticipating there is going to be a significant rise in foreclosures, he said.

Marilyn Brown, president and CEO of Houston s Coalition for the Homeless, told lawmakers that it could be weeks or months before it becomes clear how many low-income renters now meet some federal definitions of homeless.

She said the most vulnerable are people who were living paycheck to paycheck and lost their vehicles to flooding, missed work in the immediate aftermath or now must find apartments in a market inundated with new renters.

Thousands of Houstonians are in this precarious situation, she said.

Texas Education Commissioner Mike Morath spent more than an hour taking the Appropriations Committee through a long list of costs the state might have to consider to get schools back on track. School districts across the state are taking in students who have been displaced from their homes and are enrolling away from their home districts.

We have a lot of newly homeless students in the state of Texas, Morath said. The Texas Education Agency plans to shift about $380 million from the second fiscal year of the biennium to compensate districts for their sudden increases in enrollment.

The Corpus Christi area has seen the most displacement, hosting the only three school districts still closed, set to open in October, he said. The state agency plans to spend an estimated $250 million to keep up the funding of districts with lower enrollment due to the storm and ask the Legislature to pay for it in the 2019 legislative session. It also plans to forgive about $150 million of the increase in funds property wealthy districts affected by Harvey would be required to pay the state.

Property-wealthy school districts can apply to redirect the recapture funds they would pay to the state to offset property poor districts to instead fix up their own facilities. That could cost the state a maximum of $500 million in lost funds, Morath estimated.

The state is also required to pay more for students who are considered homeless and receive free or reduced price lunch over the next two years. That could cost the state $266 million.

Morgan Smith and Aliyya Swaby contributed to this report.


Hurricane Relief: Help for Those Impacted, Mortgage Bankers Association, mortgage relief act.#Mortgage #relief #act


Mortgage relief act

Mortgage relief act

Hurricane Relief: Help for Those Impacted

In This Section

Important First Steps if You Have Been Affected

1. Call your mortgage servicer, which is the company you make your monthly mortgage payment to. These companies have plans and programs to help you through this difficult time, but they need to hear from you.

2. Call your homeowners insurance company and, if you have it, your flood insurance company. It’s important to get the ball rolling with them immediately.

3. Apply for disaster assistance with the Federal Emergency Management Agency (FEMA). They have a number of resources to help. Here’s how the registration process works. Call 800-621-3362 or visit www.disasterassistance.gov

Are you a member of the industry looking for information? We have you covered with important and timely Hurricane Relief Industry Resources.

Additional Resources

Mortgage Help Information From federally-regulated Fannie Mae and Freddie Mac

Supporting Hurricane Relief in Puerto Rico

MBA has made donations to two organizations that are active and mobilized in Puerto Rico, including:

  • United for Puerto Rico, organized by the First Lady of Puerto Rico, Beatriz Rossello, is a collaboration of private sector sponsors organized to direct resources and aid including donations, volunteers, goods and services, to those affected by Hurricane Maria.

Share this page

Stay Connected With MBA

Mortgage relief act Mortgage relief act Mortgage relief act Mortgage relief act

Mortgage Bankers Association

1919 M Street NW, 5th floor

Washington, DC 20036

(202) 557-2700 (800) 793-6222

2017 Mortgage Bankers Association. All rights reserved.


How Cutting Mortgage Interest Relief Affects You, GRL Landlord Association, mortgage relief act.#Mortgage #relief #act


How Cutting Mortgage Interest Relief Affects You

Mortgage relief act

Chancellor George Osborne has decreed there’s no going back on the new cuts in tax relief on mortgage interest payments for landlords paying higher rate tax.

According to the draft Finance Act 2015, this is how the calculation will work.

The example takes a landlord earning a £30,000 salary and £35,000 in rents currently offsetting £28,000 in mortgage interest relief as a property business expense.

From April 2016, this relief will be phased out over four years to a tax credit of 20% of mortgage interest paid.

The table below shows how this will change the amount of income tax our landlord pays between the 2016 and 2020 tax years.

Salary and rental income for 2020 have been increased to reflect higher earnings and rents over the intervening period. Mortgage interest stays the same, although rates will inevitably rise before April 2020.

The crucial point is our landlord makes a £7,000 rental profit in 2016 after offsetting mortgage interest.

In 2020, this taxable profit becomes £30,400. The change in tax relief makes our landlord a higher rate taxpayer, and although the mortgage interest tax credit reduces some of the higher rate tax due, income tax is still 75% higher in 2020 than in 2016.

The tax credit is calculated as 20% of the lowest of:

  • Finance costs not subtracted from income – £28,000
  • Property business profits – £38,000
  • Income exceeding allowances £60,500

Landlords should act now to work out how the tax shock will affect their businesses, as they have four years to plan.

Unfortunately, they can take limited action to counter the tax increase. Options include:

  • Switching buy to let properties into a company – but this triggers capital gains tax and stamp duty
  • Switching buy to lets to holiday lets – only optional in some areas
  • Converting buy to lets to commercial property – again a limited option
  • Selling to a private home buyer – again a capital gains tax trigger

Mortgage Interest Tax Relief – An Example


TaxVox, Tax Policy Center, obama mortgage relief.#Obama #mortgage #relief


TaxVox

The voices of Tax Policy Center’s researchers and staff

Obama mortgage relief

The House Ways and Means Tax Bill Would Raise the National Debt to 123 percent of GDP by 2037

Obama mortgage relief

Repealing The Estate Tax Could Allow Heirs Of The Very Wealthy To Avoid Tax On Capital Gains

Obama mortgage relief

The House Tax Bill Would Simplify Higher Ed Subsidies, But The Price Would Be Higher Costs For Many

Obama mortgage relief

Chairman Hatch’s Newest Tax Bill: Let’s Call (Almost) The Whole Thing Off

Obama mortgage relief

The House Tax Bill Is Not Very Charitable to Nonprofits

Obama mortgage relief

A Bubble with a Bite: The House Tax Bill Implies a 49.4 Percent Top Effective Tax Rate

Obama mortgage relief

Many Families with Children Won’t Be Helped By The House Version Of The Tax Cuts And Jobs Act

Obama mortgage relief

The House’s Tax Bill Would Cut Taxes Mostly For The Highest-Income Households

Obama mortgage relief

The Two GOP Tax Plans Differ In Details But Both Are Big Tax Cuts For Business, Modest Reductions For Households

Obama mortgage relief

Cutting Taxes the Hard Way

A Proposal to Reform the Taxation of Corporate Income

  • Obama mortgage relief
  • Obama mortgage relief

California Housing Finance Agency, CalHFA, mortgage relief program.#Mortgage #relief #program


CalHFA supports the needs of renters and homebuyers

Mortgage relief program Mortgage relief program Mortgage relief program Mortgage relief program

  • Mortgage relief program
  • Mortgage relief program
  • Mortgage relief program
  • Mortgage relief program
  • Mortgage relief program
  • Mortgage relief program

Homebuyers

Mortgage relief program

Mortgage relief program

CalHFA Homeowners

Mortgage relief program

Mortgage relief program

Lenders/Realtors

Mortgage relief program

Mortgage relief program

Mortgage relief program

Multifamily Developers/Managers

Mortgage relief program

Mortgage relief program

What’s New at CalHFA

  • Program Bulletin #2017-13 – Proposed Federal Tax Reform and the Uncertainty of Mortgage Credit Certificate Program
  • Press Release 2017-11-09 – CalHFA Launches New Path to Homeownership for Service Members and Veterans
  • Video – Cal-EEM + Grant helps homebuyers with $24,000 of energy upgrades
  • Press Release 2017-10-03 – CalHFA Increases Access to Manufactured Home Loans
  • Program Bulletin #2017-12 – Closing Document Revisions for MyHome Assistance Program and Extra Credit Teacher Home Purchase Program (ECTP) when combined with a CalHFA Government Insured/Guaranteed First Mortgage
  • Program Bulletin #2017-11 – CalHFA Launches New CalHFA VA Loan Program
  • Press Release 2017-09-14 – Michael Carroll is CalHFA s New Director of Multifamily Programs
  • Program Bulletin #2017-10 – Updated Sales Price Limits
  • Program Bulletin #2017-09 – Updated Income Limits for all CalHFA Conventional and FHA Loan First Mortgage Programs
  • Program Bulletin #2017-08 – Updates to Manufactured Housing Guidelines for All CalHFA FHA Loan Programs
  • Press Release 2017-07-11 – CalHFA Helps Hundreds with Free Homebuyer Education
  • Program Bulletin #2017-07 – Escrow Holdbacks Allowed and Name Change for the Notice of Conditional Approval
  • Get to know CalHFA and our programs by viewing our Video Library.
  • Enews announcements can be found on our Archived Page.

Hardship Foreclosure Assistance

  • Keep Your Home California programs are designed for homeowners who are struggling to pay their mortgages.

Mortgage relief program

  • The Home Affordable Refinance Program (HARP) is available on loans owned by Fannie Mae and Freddie Mac. If these loans were insured by the California Housing Loan Insurance Fund they may be eligible to have existing mortgage insurance transferred to a new refinance loan.

Other Information

  • Mortgage relief programThe California Victims Compensation Board is available to help California victims of the October 1 shooting in Las Vegas. If you’ve lost a family member, been injured or attended the Route 91 Harvest Festival where this terrible tragedy occurred on Sunday night, CalVCB can provide financial assistance. Visit the California Victims Compensation Board website and news release for more information.
  • Public Notice: Environmental Assessment For Whittier Downey SE Apartments (300 MB)
  • Public Notice: Environmental Assessment For North San Pedro Studios
  • Public Notice: 2017 Mortgage Credit Certificate Program
  • Veterans Housing and Homelessness Prevention Program (VHHP)
  • 2014 California Affordable Housing Cost Study
  • Language Access Complaint Form /Formulario de queja de acceso por idioma

Mortgage relief programMortgage relief program

Mortgage relief program Mortgage relief program Mortgage relief program Mortgage relief program Mortgage relief program Mortgage relief program