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kev374
ParticipantI think the big wigs are going to get wealthy regardless. The losses are always distributed to the hapless middle class shareholders, the fat commissions, big Wall St. bonuses and fat CEO salaries have already been paid out. It’s too late for them to lose. I think the scammers on Wall St. have also exported a lot of these CDOs overseas to some ignoramuses there who have relied on bogus American rating firms like Moodys.
ParticipantI think the big wigs are going to get wealthy regardless. The losses are always distributed to the hapless middle class shareholders, the fat commissions, big Wall St. bonuses and fat CEO salaries have already been paid out. It’s too late for them to lose. I think the scammers on Wall St. have also exported a lot of these CDOs overseas to some ignoramuses there who have relied on bogus American rating firms like Moodys.
ParticipantI think the big wigs are going to get wealthy regardless. The losses are always distributed to the hapless middle class shareholders, the fat commissions, big Wall St. bonuses and fat CEO salaries have already been paid out. It’s too late for them to lose. I think the scammers on Wall St. have also exported a lot of these CDOs overseas to some ignoramuses there who have relied on bogus American rating firms like Moodys.
ParticipantLOL!
In English please!!!
ParticipantLOL!
In English please!!!
ParticipantLOL!
In English please!!!
ParticipantLOL!
In English please!!!
ParticipantI know for a fact that if you didn’t refinance the original loan then it is non-recourse. There cannot be a deficiency judgement against you and nor can there be any tax liabilities. Of course as always double-check with a CPA as sdr said.
If you refinanced however, there are huge problems including possible deficiency judgements and/or IRS tax liability. I asked another question about this whether it only applies to cash-out or not.
I would imagine definciency judgements are much better because you know how the IRS is about money owed to them 🙂 From what I’ve read many lenders will discharge the loss and issue 1099 resulting in huge tax liability for the borrower.
I think there was a bill in congress to change this legislation but not sure what is the state of that.
ParticipantI know for a fact that if you didn’t refinance the original loan then it is non-recourse. There cannot be a deficiency judgement against you and nor can there be any tax liabilities. Of course as always double-check with a CPA as sdr said.
If you refinanced however, there are huge problems including possible deficiency judgements and/or IRS tax liability. I asked another question about this whether it only applies to cash-out or not.
I would imagine definciency judgements are much better because you know how the IRS is about money owed to them 🙂 From what I’ve read many lenders will discharge the loss and issue 1099 resulting in huge tax liability for the borrower.
I think there was a bill in congress to change this legislation but not sure what is the state of that.
ParticipantI know for a fact that if you didn’t refinance the original loan then it is non-recourse. There cannot be a deficiency judgement against you and nor can there be any tax liabilities. Of course as always double-check with a CPA as sdr said.
If you refinanced however, there are huge problems including possible deficiency judgements and/or IRS tax liability. I asked another question about this whether it only applies to cash-out or not.
I would imagine definciency judgements are much better because you know how the IRS is about money owed to them 🙂 From what I’ve read many lenders will discharge the loss and issue 1099 resulting in huge tax liability for the borrower.
I think there was a bill in congress to change this legislation but not sure what is the state of that.
ParticipantI know for a fact that if you didn’t refinance the original loan then it is non-recourse. There cannot be a deficiency judgement against you and nor can there be any tax liabilities. Of course as always double-check with a CPA as sdr said.
If you refinanced however, there are huge problems including possible deficiency judgements and/or IRS tax liability. I asked another question about this whether it only applies to cash-out or not.
I would imagine definciency judgements are much better because you know how the IRS is about money owed to them 🙂 From what I’ve read many lenders will discharge the loss and issue 1099 resulting in huge tax liability for the borrower.
I think there was a bill in congress to change this legislation but not sure what is the state of that.
ParticipantI guess I am an idiot.
I refinanced a rental property…
sorry, I should’ve clarified, I meant anyone who is *going to* finance through countrywide going forward, knowing they are adjusting the loans this way, giving their prime customers a worse deal than the delinquents.
ParticipantI guess I am an idiot.
I refinanced a rental property…
sorry, I should’ve clarified, I meant anyone who is *going to* finance through countrywide going forward, knowing they are adjusting the loans this way, giving their prime customers a worse deal than the delinquents.
ParticipantI guess I am an idiot.
I refinanced a rental property…
sorry, I should’ve clarified, I meant anyone who is *going to* finance through countrywide going forward, knowing they are adjusting the loans this way, giving their prime customers a worse deal than the delinquents.
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