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Can you get a home equity loan if the house is financed by a private party?
Wiki User
∙ 13y ago
YES AND NO. depend how it affects your LTV and liens. As long Loan to Value is less than 80% does not matter who financed your house you can get the HELOC to the amount of 80% LTV. Some times it may change by the lenders internal policies.
Also how the lien on your title is affected by private loan and if there is any condition that may affect your additional borrowing. Check the documents before you apply for the HELOC.
Best bet contact the local small banks. They do not charge any fee for the HELOC. You do not need an agent for it.
Wiki User
∙ 13y ago
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Is the interest deductible when you use a home equity loan to pay off a second mortgage?
The interest on the second mortgage is deductible but not the home equity loan. If you could deduct the interest on the equity loan also, then you would be double dipping and the IRS doesn't like that. In every situation, one party can and the other party can deduct the interest. Someone has to pay tax on the money transfer.
Is it legal to have a third party buy a home for you?
Typically the person that signs the paperwork to buy the house owns the house. They can, of course, sign the house over to you after buying the house.
What is In house underwriting when dealing with home mortgages?
In House underwriting means that the lender is doing their own underwriting instead of sending it out to a 3rd party underwriter.
What are the qualifications of the Speaker of the House?
The Speaker does not have to meet any qualifications other than those to be elected as a member of the House of Representatives. He is selected by the House and is usually one of the most senior members of the majority party.
Name a place where your work holiday party might be held?
office hotel bar restaurant boss's house
What does the Superfund Recycling Equity Act do?
It exempts recyclers from liability in private-party actions under CERCLA.
What are the release dates for Sweat Equity - 2006 The Party Yard?
Sweat Equity - 2006 The Party Yard was released on: USA: 7 November 2012
Who sings the song Private Party?
There is no song called "Private Party". However, there is a song called "Party for Two" by Shania Twain, which has the words "private party" in the lyrics.
When was Private Party created?
Private Party was created on 1990-08-14.
When was Private Beach Party created?
Private Beach Party was created in 1985.
How do you say private party in spanish?
Some one is having a party and it is private = Fiesta privada As in a private person (Party of the first part...) = Parte privada
Who sings the party song?
There is no song called "Private Party". However, there is a song called "Party for Two" by Shania Twain, which has the words "private party" in the lyrics.
Where is The Beach House Restaurant located?
The Beach House Restaurant is located on the island of Kauai, Hawaii. The Beach House Restaurant offers weddings spaces and private party spaces. They also offer a merchandise store.
A private meeting of political party leaders was called a?
A private meeting of political party leaders was called a Tradition
When was Private Party Collectors Edition created?
Private Party Collectors Edition was created on 2000-12-05.
Can your sim get married anywhere they want?
Yes, once you get your Sim to propose to another they can either have:- A private wedding (to get to that option click on romantic-private wedding OR special- family oriented [if you picked it as a trait]- private wedding)- A wedding party away (to get to that option click on the cell phone in the inventory- click throw party at- pick destination- on the drop down menu that shows up click wedding party and then pick your guests and time etc)- A wedding party at your Sim's house (do the same as above but instead of clicking throw party at- pick throw party)
Do you get the same tax benefit if your mortgage is financed by a private party instead of a mortgage broker or bank?
Yes, it does not matter who you pay the interest to as long as it is secured by a loan on your primary residence or secondary residence. If your lender does not provide a 1099 at the end of the year, you will have to calculate your interest on your own.
