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Unfortunately, mortgages for second houses and rentals do not qualify for mortgage relief.
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∙ 13y ago
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Can you combine two properties in one mortgage?
Yes, in some instances two properties can be covered by one mortgage. It is called a blanket mortgage.
Can you claim mortgage interest on income taxes on your NY home and live in Florida?
On your federal income taxes, you are allowed to claim a mortgage interest deduction for your principal residence and one other residence of your choice. It does not have to be in the same state. In addition, you are allowed to claim the interest on all rental or business properties.
What are the warning signs of mortgage relief scams?
There are many different warning signs of a scam one might be on the look out for when it comes to mortgage relief. The "FTC" website notes that a popular scam with fraudsters is the requirement of signing over a deed.
What are some reasons to refinance a home mortgage?
Some reasons for refinancing a mortgage is lowering mortgage rate, change in family composition, purchasing other properties for investment and switching the mortgage type from Adjustable-Rate Mortgage (ARM) to a fixed-rate mortgage.
How do buy to let mortgages work?
A buy to let mortgage is a mortgage loan that an investor uses to purchase a rental property for producing residual income. The loan amount and the interest rates are different than a conventional mortgage.
Do mortgage lenders consider rental history?
yes mortgage lenders do consider rental history source of your credit score
Where can I learn more about mortgage relief?
Please go to www.mortgagereliefonline.com. There you will be able to learn more about mortgage relief and how you can get help.
Where can I learn about mortgage relief?
There is actually a website that you can go to, to learn more about mortgage relief. It is www.mortgagereliefonline.com, there you will learn everything you need to know
Can you make money off advertising rental properties?
You can make money from advertising rental properties if the owner of the properties is willing to pay you.
Can the same 2nd mortgage be recorded on two properties?
Yes, A mortgage can cover multiple properties.
Can you combine two properties in one mortgage?
Yes, in some instances two properties can be covered by one mortgage. It is called a blanket mortgage.
Remodeling rental properties?
I would like to do a remodel contract on my summer home. Is this a problem for most rental properties?
Where can I find information on mortgage debt relief?
Mortgage debt relief is an incredibly hot topic the world over. Generally, one should look into a credit repair type company for assistance in any type of debt relief, including a mortgage debt.
Can I sell one of my rental properties and roll over the equity into one of my other rental properties of greater value to buy down the mortage on the second rental that I keep but already have a mortage on?
No, you can't facilitate an exchange for property you already own. Yes, you can accomplish this. Take the proceeds from the sale of property one and pay them towards property two. You may want to ask for a mortgage readjustment for property two.
When applying for a mortgage how much credit towards your income do you get for rental income?
Some lenders used to give you credit for 75% of your rental income to show as income on your application. The secondary market has been getting more stringent in the past year with giving credit for income. The lender/underwriter will need to see your complete federal tax return and analyze Schedule E on your rental properties to determine the amount of income actually derived from the rental properties.
Is there a good place to find out about how to lease rental property?
There is a good place to find out about leasing rental properties. You can go to www.thelpa.com and www.leasemls.com/ to find out about leasing rental properties.
What exactly is cheap contents insurance?
Cheap content insurance is mainly for the landlords to manage the rental properties and associated upkeep of these rental properties. By having cheap content insurance a landlord does not have to pay for the repairs or damages in the rental properties.
