| Author |
Message |
jameshogg
Joined: 20 Dec 2005
Posts: 4189
Location: nevada
492.91 Dollars($)
|
Post subject: |
|
|
Hi newmom,
If the mobile home does not have a permanent foundation, I don't think she will be able to use it as collateral to get a loan. To know more about mobile home loans, check out the following link: http://www.mortgagefit.com/owner-financing.html .She may try to get a land loan in order to purchase the land from the seller.
Thanks |
|
 |
jp999
Guest
0.10 Dollars($)
|
|
Post subject: capital gains taxes |
|
|
| If I offer owner financing to the tenent of a single family property I own, will I owe capital gains taxes when the sales agreement is made, or when the property is paid in full? |
|
|
Guest
0.10 Dollars($)
|
|
Post subject: |
|
|
| If it's your principle residence, then you will not owe the capital gains tax as far as my knowledge. Otherwise, you will have to pay the taxes. |
|
|
Hudson1206
Guest
0.10 Dollars($)
|
|
Post subject: Property taxes |
|
|
| If I purchase a home through owner financing can I deduct the interest from my taxes |
|
|
Guest
0.10 Dollars($)
|
|
Post subject: |
|
|
| I think you can deduct the interest from the taxes. |
|
|
patriciaa
Guest
0.10 Dollars($)
|
|
Post subject: can the owner place a judgement i want to give the prop back |
|
|
what can the owner do to me if i want to give him back his property.
His property is free and clear and he does not owe any money on it. |
|
|
aquarius
Guest
0.10 Dollars($)
|
|
Post subject: Bankruptcy |
|
|
| If I am almost in my first year of paying can I still apply for one of these programs. Would I have to pay a higher percentage rate. |
|
|
sara
Moderator
Joined: 05 Jul 2006
Posts: 1651
Location: New Brunswick, New Jersey
308.83 Dollars($)
|
|
Post subject: |
|
|
Hi,
To patriciaa,
If the property is free and clear, then you can give it back to him. I don't think in that case, he can claim any judgments.
To aquarius,
You can definitely apply for bankruptcy but you will have to go for a Means Test. To know more about Means test, check out the following link:
http://www.mortgagefit.com/bankruptcy/chapter7-chapter13.html
Take Care |
|
|
MS MILLER
Guest
0.10 Dollars($)
|
|
Post subject: owner financing |
|
|
| I AM IN A LEASE/PURCHASE,I AM NO SURE OF SOME OF THE TEARMS,WRITTEN BY THE MANAGEMENT CO.SHOULD I SEEK A REAL ESTATE LAWYER, TO EXPLAIN THEM TO ME BEFORE I AGREE TO PURCHASE? |
|
|
jameshogg
Joined: 20 Dec 2005
Posts: 4189
Location: nevada
492.91 Dollars($)
|
|
Post subject: |
|
|
Hi MS MILLER,
You can definitely take the help of a lawyer to explain the terms and conditions of the agreement to you. You can even ask the management company to do the same for you. Once you understand the documents fully, then go ahead and sign them.
Thanks |
|
|
nicole05j
Guest
0.10 Dollars($)
|
|
Post subject: |
|
|
| who gets to write off the interest on a carry loan |
|
|
Guest
0.10 Dollars($)
|
|
Post subject: |
|
|
| You will have to contact your lender and check out with him. I guess it will be decided by the lender. |
|
|
gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 7129
Location: bloomfield, ct
18.93 Dollars($)
|
|
Post subject: |
|
|
gosh...if you're going to go by the "guess" of a "guest" as to who can take a deduction for interest paid on a mortgage, then you'll be in trouble, nicole.
i'm not sure what you're referring to as a "carry loan" but if you pay the interest...if your social security number is shown on the mortgage on which you pay the interest...then you can claim it.
it is absolutely not up to a lender to tell you this information. the irs is the authority on tax deductions and that's where you ought to go with specific questions. you can simply go online and ask questions at irs.gov.
_________________
George M. Akerley
Loan Consultant
860-221-5044 |
|
|
Beth
Guest
0.10 Dollars($)
|
|
Post subject: Death of owner who financed mortgage |
|
|
I am closing the estate of a person who financed a mortgage on some property in Maine. Am I right to think that it is allowable for me to call in the mortgage, which still has about another four years? The lawyer is telling me he doesn't think I can, which will just be a big headache if I have to keep the estate open for four or five more years. My feeling is that the person who owes the money should refinance through a bank (they will have land equity, as they are inheriting a great lump of property beside the house they bought) and that I shouldn't do any favors by continuing on for five more years, aside from the fact that most of the inheritors of the estate are quite elderly and may not live long enough to get all the money from the estate that they are supposed to get.
The lawyer is trying to tell me that we don't have the right to call in the mortgage but I am not sure that he is correct. |
|
|
Beth
Guest
0.10 Dollars($)
|
|
Post subject: Death of owner who financed mortgage |
|
|
I am closing the estate of a person who financed a mortgage on some property in Maine. Am I right to think that it is allowable for me to call in the mortgage, which still has about another four years? The lawyer is telling me he doesn't think I can, which will just be a big headache if I have to keep the estate open for four or five more years. My feeling is that the person who owes the money should refinance through a bank (they will have land equity, as they are inheriting a great lump of property beside the house they bought) and that I shouldn't do any favors by continuing on for five more years, aside from the fact that most of the inheritors of the estate are quite elderly and may not live long enough to get all the money from the estate that they are supposed to get.
The lawyer is trying to tell me that we don't have the right to call in the mortgage but I am not sure that he is correct. |
|
|
Previous 1 2 3 4 5 6 7 8 9 Next 
