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Four Star Mortgage

West Valley City's $30 Million Hotel

with the private sector. If the market demanded a four-star hotel in West Valley City, the market would build a four-star hotel." VOICE-OVER ...

Ex-HPD Chief Kealoha and wife default on $1M mortgage, lawsuit says

A former Honolulu police chief and his wife — a deputy city prosecutor — who are both facing charges in a corruption case, are being sued for failure to pay their home mortgage.

The lawsuit filed by Hawaii Central Federal Credit Union this week comes as Louis and Katherine Kealoha fight an indictment. The credit union claims the couple defaulted on a $1 million mortgage for their home in Hawaii Kai, an affluent east Honolulu neighborhood.

The Kealohas have pleaded not guilty to a grand jury indictment accusing them of framing Katherine Kealoha’s uncle to discredit him in a family financial dispute. Other current and former officers also were named in the indictment.

In order to maintain the couple’s lavish lifestyle, Katherine Kealoha bilked banks along with her 98-year-old grandmother, an uncle and two children whose trust accounts she oversaw, U.S. prosecutors said.

Among other things, prosecutors say she spent money on Maserati car payments, Elton John concert tickets and a $26,000 brunch at a Waikiki resort when her husband was made police chief.

When your parents die broke

If your parents are among those likely to die in debt, here's what you need to know.

—YOU (PROBABLY) AREN'T RESPONSIBLE FOR THEIR DEBTS When people die, their debts don't disappear. Those debts are now owed by their estates. Some estates don't have enough assets (property, investments and cash) to pay all of the bills, so some of those bills just don't get paid. Spouses may have the responsibility for certain debts, depending on state law, but survivors who aren't spouses usually don't have to pay what's owed unless they co-signed for the debt or applied for credit together with the person who died.

What's more, assets that pass directly to heirs often don't have to be used to pay the estate's debts. These assets can include "pay on death" bank accounts, life insurance policies, retirement plans and other accounts that name beneficiaries, as long as the beneficiary isn't the estate.

"You take it and go home," says Jennifer Sawday, an estate planning attorney in Long Beach, California.

What social class am I?

Hey I was wondering if you could help me out, I've always wondered what my families social class is.

Bloody Brit obsession with class, the bane of this country.
You are middle class.