April 19, 2014 |
Sarah Luna wants to buy a home in up-and-coming northeast Los Angeles before it's too late. At 31, she has a master's degree and earns more than $70,000 as a court reporter and freelance editor. She daydreams about trading the Glendale apartment she shares for a little condo, maybe in Echo Park or Highland Park. Just one thing holds her back: The $700 she's paid every month since 2008, after she graduated from the University of Southern California - with $75,000 in student debt.
CALIFORNIA | LOCAL
April 18, 2014 |
SACRAMENTO - Soon after Jerry Brown was elected governor in 2010, he invited the state's top budget official, Ana Matosantos, to lunch at his office. He had just two months to prepare his first plan for tackling California's $26-billion deficit. He asked his assistant to fetch the budget director a sandwich. Then, Matosantos said, the incoming governor of one of the world's largest economies ate a single hard-boiled egg, sprinkled with salt. Brown's dietary discipline was a hint of the regimented approach he would take to California's staggering financial problems, which he had promised to fix by pushing the state back into the black.
April 15, 2014 |
With lawmakers showing little enthusiasm for an ambitious proposal by House Ways and Means Committee Chairman Dave Camp (R-Mich.) to overhaul the byzantine U.S. tax code, Congress has to decide what to do about dozens of temporary tax breaks that expired Dec. 31. Among them is an exemption for forgiven mortgage debt that's an essential part of a broader federal effort to solve a nagging problem, namely the spate of defaults caused by the recession....
April 13, 2014 |
Question: Thinking this would be cost-effective housing, I bought a condo in the Riverside County area. Since then I've asked the board to repair my unit's balcony railing numerous times to no avail. Six years later, I received a notification that the balconies on all 96 units must be repaired, costing each owner more than $3,000. I have no say in the way things are done around here. This homeowner association has wasted thousands of dollars on repeated cosmetic primping like painting, parking lot slurry seal, landscape and more.
April 13, 2014 |
WASHINGTON - Renewal of important expired federal tax benefits for homeowners took a major step forward recently, but the route to final congressional approval is beginning to look longer - and potentially bumpier - than previously expected. Here's why. The Senate Finance Committee overwhelmingly approved a package of tax code goodies that includes a two-year reauthorization of the Mortgage Forgiveness Debt Relief Act, plus similar extensions for deductions of mortgage insurance premiums and energy-saving improvements to homes.
April 3, 2014 |
Ares Management gained control of Guitar Center Holdings Inc. in a debt-for-equity swap, the Westlake Village retailer said in a statement. Guitar Center reduced its debt by about $500 million under the deal, which gives Ares Management a controlling interest in the nation's largest guitar retailer. The deal reduces Guitar Center's crushing debt by $500 million and slashes its annual interest costs by about $70 million, the company said. Bain Capital, which bought the chain of about 250 stores in 2007, will retain partial ownership of the company after the deal with Ares Management.