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Should you refinance first home before buying a second home to be a primary residence and then renting out the first?
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∙ 15y ago
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Wiki User
∙ 15y ago
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Refinance vacation home to pay off mortgage on primary residence?
you should do just th eopposite. Refinance the primary and payoff the vacation home. Primary home interest is 100% tax deductable. Vacation home interest may not be depending on income level.
Do property taxes go up on your primary residence if you buy a 2nd home?
They are independent properties and there should be no effect on taxes on the primary residence as long as it continues to meet the requirements for a primary residence.
Can a deficiency judgment on a property in one state force a sale on a primary residence in another state.?
It depends on the state where the primary residence is located. For instance, in the State of Florida, the answer would be "no". The Florida Constitution provides a homestead protection against the efforts of creditors to levy on one's primary residence. However, a judgment creditor could record a certified copy of the judgment in the county where the Florida primary residence was located and thereby effectuate a lien on the property. This would keep the judgment debtor from being able to refinance the home or make other efforts to pull equity out of the home. In order to determine the answer to this question for the state in which you are located, you should seek legal counsel licensed to practice in your state.
How do you refinance a house that you owe more than it's worth?
Generally, no new lender will allow a refinance in that situation. You should speak with your lender.Generally, no new lender will allow a refinance in that situation. You should speak with your lender.Generally, no new lender will allow a refinance in that situation. You should speak with your lender.Generally, no new lender will allow a refinance in that situation. You should speak with your lender.
Every person should refinance their mortgage after five years.?
Every person should refinance their mortgage after five years.
How can get the information about refinance rates?
There are quite a lot of Refinance sites on the web I am including a couple www.tdcanadatrust.com/Refinancing , and this site www.calcxml.com/calculators/should-I-refinance-my-mortgage
What should I know before renting a carpet shampooer?
Before renting a carpet shampooer you should know what kind of chemicals the one you are renting takes. You should also be sure to read the fine print of the contract to make sure you know what you are paying for and what to expect from the machine that you are renting.
If someone is looking to refinance mortgage what is the first tip they should follow?
If somebody is looking to refinance their mortgage the first thing they should look at is how much they can afford to pay per month. Secondly, they should look at any fees involved with the refinance process.
Do you need to redo the deed to refinance?
You will need your deed to refinance your home. If you no longer have it, your mortgage company should be able to get it for you.
Should you refinance your car loans before or after you buy a home?
There is no set rule on whether or not you should refinance your car loans before or after buying a house. This is your choice.
When should one refinance their mortgage?
One could refinance their mortgage when the interest rate decreases. However, one must also think the amount they have to pay to refinance their mortgage.
What insurance should you buy when renting a car?
mostly you should be covered by the renting agency's insurance for the drivers of their cars. Please check
