Home loan payoff – secure your pension

Home Loan Payoff

The City of San José processes requests for payoff demands of existing homebuyer and home repair loans, and affordability restrictions (i.e., equity-share agreements).  The payoff demand processing fee is paid in escrow.

Please see more information in the Payoff Demand Instructions.  For questions, please email to Asset.Payoffdemands@sanjoseca.gov or call 408-975-4466.

Single Family Administration
Re-Subordination of CalHFA Subordinate loansp: 800.669.1079f: 916.326.6420
subloans@calhfa.ca.gov
Servicing of Subordinate Loans and Loan Payoff Demandsp: 800.669.1079f: 916.326.6420
subloans@calhfa.ca.gov

MOHCD Loan Payoff

Information for lenders

MOHCD loans can be paid off before the loan term ends. Normally, this happens when the owner sells their home, or violates our program requirements.


To request a payoff

  1. Complete the PDF icon Loan Payoff Request Package
  2. Compile the form and required documents into one PDF file.

Upload your documents with Sharefile
Sharefile will ask you to create an account

There are many reasons a homeowner wanted to payoff their mortgage loans. There is tax incentives to not payoff your home loan.

But if you already paid up the balance of your home loan, you can still use your current savings (IRA, etc) or do a reverse mortgage to buy a personalized pension (fixed Index annuity) and or a life insurance with living benefits, access of your face amount during terminal, critical or chronic illness.

Contact Connie Dello Buono, 0G60621 at 408-854-1883 connie@connielifeins.com http://www.lifeinsurance4women.com

Why Athene Fixed Index Annuity for lifetime pension

If you wish to allocate a portion of your savings or retirement/pension in a safe Fixed Index Annuity with no negative market participation, text Connie Dello Buono, 0G60621, at 408-8541883 to show you Athene’s annuity products that suits your retirement savings goal of tax less, fees less, avoid probate, safe with no participation in market downturns and more benefits as shown below.

pension-retirement-safe-athene-fixed-index-annuity

About Connie Dello Buono, Financial Consultant 4088541883 connie@connielifeins.com

Insurance Broker protecting families, seniors and business owners (insurance for life, income, health, retirement, estate and mortgage equity).

Connie Dello Buono is a California Licensed Life and Health Insurance Agent, 0G60621. Serving clients in the bay area, Santa Clara county and the greater bay area communities. Connie started helping seniors with caregivers and with life insurance products that can be used even with health issues.

Life Insurance as asset, life, and retirement income protection

We are focused on helping our clients achieve a secure retirement using fixed annuities and index universal life insurance, a final expense plan using single issue whole life insurance with no medical tests, mortgage protection insurance plans from Americo, AIG, Mutual of Omaha, Transamerica, AIG, John Hancock, American Amicable and 10 more insurance carriers, mostly A rated.

The many riders are important to protect the client during accidental death (doubles the death benefit amount), disability, loss of income/job, terminal/chronic/critical illness or living benefits riders, Return of Premium or cash back, paid up addition and getting back all premiums paid at 100 yrs of age.

Health Care strategist and founder of Motherhealth bay area caregivers

Health Author , Curated Health at Balboa Press

Motherhealth at Angielist

https://member.angieslist.com/member/store/24472151/about?categoryId=564&ref=search

Connie Dello Buono Life Insurance agency needs your review and sample requests for review of your current insurance policies to ensure your insurance matches your needs. She is a single mother of 2 who had been helping send her nieces and nephews to college. She loves dancing and going to the beach of Santa Cruz. She also helped trained many caregivers in caring for home-bound seniors in the bay area. Connie is passionate about helping families protect their lives, income, home mortgage, retirement lifetime income and health. She wrote an ebook on cancer root causes at Balboa Press, Curated health and healing ways.

Connie is now training new life insurance agents and hiring more. Text 408-854-1883. connie@connielifeins.com

Your review of her life insurance services and request for quote can help her life insurance business to a good start.

What, Why and How of Life Insurance

Text 408-854-1883 for a field underwriter near you and to match your insurance needs from 17 insurance carriers.
What is term life insurance? Provides death insurance coverage for 10, 20 or 30 years with no cash accumulation and return of premium. More affordable than whole life insurance.
John Hancock: Runner-Up, Best Overall 
AIGBest Level Term 
Transamerica: Best Guaranteed Renewable Term
Mutual of Omaha: Best for Young Families ; Includes accidental death benefit rider (2x death benefit), children rider and waiver of premium rider
Mutual of Omaha has added a new product to their portfolio, Guaranteed Advantage Accidental Death InsuranceGuaranteed Advantage pays a benefit to your clients’ family if they die as a result of an accident. When term life declines happen or the client can’t afford the premiums.
How much life insurance do I need? Based on your assets and income, you want to insure your value in the event of death to pay for the mortgage balance, other debts and to leave and estate to your family.
Most insurance companies say a reasonable amount for life insurance is six to 10 times the amount of annual salary. Another way to calculate the amount of life insurance needed is to multiply your annual salary by the number of years left until retirement.

The calculations behind life insurance rates are all about life expectancy. That’s why life insurance costs more as you get older.
If you outlive your policy term, the insurance ends and you must buy another policy if you still want to carry life insurance. However, the annual premium for another policy could be quite expensive because you’re older and an insurer will take into account health conditions. That’s why it’s important to choose a suitable term length early in life.
You would need to buy an additional term life policy at an extra charge if you find a term life policy isn’t sufficient.
Which is better term or whole life insurance? Use term or whole life insurance based on your financial and insurance goals. If you want to leave a legacy or an estate to your family with no cash accumulation and return of premium, choose Term life.
Whole life insurance is a “straight life” or “ordinary life,” is a life insurance policy which is guaranteed to remain in force for the insured’s entire lifetime, provided required premiums are paid, or to the maturity date. Whole Life Insurance is permanent insurance with strong guarantees. It has a guaranteed death benefit, guaranteed premiums, and guaranteed cash value growth.
Cash Value builds inside of whole life insurance policies. Imagine this cash value portion like a savings account, that you can access at any time. We say it is a savings account because the cash value will only go up. It never fluctuates up and down. You can get extra cash value by getting more paid-up additions on your policy. See infinite banking. You can access the cash value by:
– Loans
– Distributions
– Take out dividends as cash
Life Insurance Amount Calculation: How much life insurance do I need?
Another way to calculate the amount of life insurance needed is to multiply your annual salary by the number of years left until retirement. For example, if a 40-year-old man currently makes $20,000 a year, the man will need $500,000 (25 years x $20,000) in life insurance.
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2020 Tax Brackets and Rates

Text 408-8541883 and agent near you to show you income and disability benefits from life insurance products like Index Universal Life Insurance and Fixed Indexed Annuities.

In the United States we have what is known as a progressive tax system. This means that we pay a higher percentage in taxes as our income goes up. What people may not necessarily realize is that we actually pay taxes at each one of these tax brackets along the way.

There are 12 states with zero or less income taxes such as Nevada.

Capital Gains

Long-term capital gains are taxed using different brackets and rates than ordinary income.

 For Unmarried IndividualsFor Married Individuals Filing Joint ReturnsFor Heads of Households
 Taxable Income Over
0%$0$0$0
15%$40,000$80,000$53,600
20%$441,450$496,600$469,050
 Additional Net Investment Income Tax
3.8%MAGI above $200,000MAGI above $250,000MAGI above $200,000
Source: “2020 Tax Brackets,” Tax Foundation and IRS Topic Number 559

Qualified Business Income Deduction (Sec. 199A)

The Tax Cuts and Jobs Act includes a 20 percent deduction for pass-through businesses against up to $163,300 of qualified business income for single taxpayers and $326,600 for married taxpayers filing jointly (Table 7).

Filing StatusThreshold
Single Individuals$163,300
Married Filing Jointly$326,600
Source: Internal Revenue Service

Annual Exclusion for Gifts

In 2020, the first $15,000 of gifts to any person is excluded from tax. The exclusion is increased to $157,000 for gifts to spouses who are not citizens of the United States.