Posted: Tue Mar 27, 2007 9:51 pm Post subject: Do I include home improvement costs while calculating PPCP?
What is inclusive in PPCP? I understand principle payments to a lender. Is there anything else that could make up PPCP. Cost for home improvements during the marriage for example. would this be a lump sum inclusioninto PPCP? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
The PPCP (Payments towards Principal from community property) includes payments towards the principal made by both the owners of the community property. It may include the home improvement cost provided the improvement can increase the home value appreciably.
You need to consult your lender or mortgage company in this regard.
Posted: Tue Mar 27, 2007 10:43 pm Post subject: RE: Home imporvemnet costs and moore marsden rule
Hi Les,
Welcome to the forums.
The PPCP may not include the home improvement costs but the CP, that is, the community property interest owned by each spouse will include each spouse's contribution towards the mortgage and home improvement costs provided the home improvement has appreciated the home value.
adonis
