meme asked:


The loan and home will stay in my name but she will pay part of the payment until she gets on her feet and can pay all the payment. Do I have to claim these partial payments as income on my taxes? If I must claim the income can I claim a loss since the payments will not cover the loan?

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MommyMe asked:


We live in Ohio and are selling our condo. We’ve had it on the market for almost 7 months. We have found the house we’d like to buy and have been thinking of a “bridge loan” and yes, we know they can be very dangerous. Can we still get a 5/1 buy down on the house we want, and a bridge loan on our condo? Thank you in advance.

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madsmom_99 asked:


My husband and I have found ourselves in the unfortunate situation of having a lien put on our home due to past child support. We are in the process of having this straightened out but are concerned that the lien will affect my parents who are co-signers on the loan for our home.

My husband recently finished his bachelor’s degree, and we had been making small but monthly payments to two different agencies. We received notice last August that one agency was increasing his payment, making it a little over double what we had been paying to both. I mistakenly believed that the payments had been combined and started making only one monthly payment. We have since realized that this was not the case, and are making arrangements to rectify the situation. Our main concern is for my parents. We are worried that our mistake is going to affect their credit. Any advise is greatly appreciated.

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toolate asked:


is there a closing before u build? do you the payments start as soon as they break ground? i want to build a new house but i dont even know the basics to begin.

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Mew asked:


Now that home prices are often lower than the outstanding liablility, how do you pass on to your spouse? Do they have
a choice not to accept home because more is owed on it
than the value of home. Is there a certain clause to include
in a will or liviing trust?

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grandmalc9 asked:


We have a buyer who would like to owner-finance our home; however we still have a mortgage. Will we have to pay off the mortgage or can we pay it off when the balloon payment is made at the end of 5 years?

Joann

pandit ji asked:


What do i need to have a joint ownership(joint equity), with another person, on my home for which i currently have a mortgage? I want to have this other person as 50% owner of the home and as well as the loan liability.
The house is located in Orlando FL. US

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