Archive for November, 2008
Can I rent my home if I have an FHA mortgage on it?
asked: My home has been on the market for almost a year (OH is very slow market right now). I am considering renting it to offset my mortgage expenses, but am unsure if there are restrictions because I’m financed FHA that prevent that. Also, would I need to change my homeowners insurance?
How can we stop fighting over money?
Rex A asked: I bring in about 2200 a month. My husband brings in about 3500. I attend school full-time. Additionally-I work part-time. He works full-time. We keep our money separate. I ask for 1570 a month from him. Somehow this is too much and we are constantly fighting. He has a credit card with [...]
Hi, i am going to sign a commercial loan contract approval, any advice is helpful?
Shawn A asked: I have been quoted a rate by a commercial finance consultant company and they are asking for $2500.00 deposit to get the loan started. They say it is partially refundable if loan doesent go through, I don’t have a lawyer, here is the fine print in the contract, if someone could read [...]
Would lowering interest rates to offset the subprime meltdown only exacerbate the problem?
Lawn Jockey asked: Meaning, if people signed on for adjustable-rate mortgages because rates were low to begin with, and many have since defaulted on those loans, would lowering rates to offset a slowing economy just **** people back into ARMs again?
would u buy ur kid a condo if she is in college and u could afford it?
colonita asked: we think paying rent is wasting money. instead want to buy her a small condo. she can live there with at least one other friend who will pay rent. the mortgage will be offset by the renter. we can declare it a second home and take 50%deductible in taxes….is this an idea …or [...]
Can I have mortgage interest, property tax deduction AND standard deductions all together?
John S asked: Bought a condo on 06/2007, with intention to be my main residence but I had to postpone moving in until Sep08.
I rented out my new condo from 09/07 to 09/08. I started looking for a tenant for my new condo around my closing time (June 2007), and my condo was never [...]
What can be considered a loss in rental income when filing our taxes?
Confused Housewife/House Manager asked: My husband and I own a condo that we started renting out in October of 2007. We lived in the condo til July 2007 when we purchased a new home in a different city. From July to October, the condo sat empty without a tenant due to lack of demand, timing [...]
how do I get an offset mortgage in the USA – are they legal?
Andrew W asked: I used to live in the UK and a fairly common mortgage was an “offset” or “current account mortgage” where the money in your checking and/or savings accounts was used to offset interest on the principal for your mortgage – as opposed to earning a lower rate of interest. These are [...]
What does offset mean in mortgage terms?
Starving Billionaire asked: i.e.
can apply for a mortgage of up to £250,000 (Offset up to £175,000)
Single and owe back taxes because of 1099r for former spouse?
Anita asked: Help, I owe back taxes because I receive a 1099r former spouse retirement check. I never had taxes withheld because I didn’t know better. What I need to know is how can I offset my taxes in the future. I am now having taxes withdrawn, w-4P. I made less than 40k in 2007, [...]
