my parents helped my husband and i purchase a home this year. we have a loan agreement with them and have been making payments of principal and interest since june of this year. the loan is not secured on the home. the home mortgage interest deduction for federal personal income taxes requires that the loan be secured on the property. if i get the loan secured before the end of this taxable year, can i deduct all interest payment made this year even if they were made before the home was secured?
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How soon can you purchase a home after filing Bankruptcy?
04
Sep
And do anybody know of any companys that do these kinds of home loans
Pre-Approval Home Loans?
03
Sep
my husband found a home and are looking to get pre-approved. It is asking how much do i want. The home costs $109,900 with $21,980 down. How much do I ask for. I am going with ING Direct.
Need help refinancing a home loan?
03
Sep
I bought my home last year (August) and at the last minute they informed me I’d be paying PMI insurance. ($80month)
I’ve gotten a better paying job since then and am going to pay down the principal of my home. (Only by a couple thousand dollars in the coming months).
I’d like to refinance my home to get rid of PMI and pay down my principal to refinance and get cheaper monthly payments.
Can anyone recommend a good re-finance company? Is it a good idea to refinance? Is the fact I’ve only had the loan a year a problem? (I’ve made all my payments on time).
Please help me figure out whether or not it’s a good idea for me to refinance. My current interest rate is 6.25%.
Thanks!!
Can I still do a no doc/stated refi?
03
Sep
I bought my home 2 years ago and went with a no doc/stated loan. I have 2 homes, never been late on either one (not a single day for 5 years), credit score over 750, assets of about 25k in the bank, BUT I would like to refinance using a no doc type of loan. Is this still possible? I know freddie mac has strict rules against no doc loans, but what I’m looking for is a refi. Hopefully there is more leniency on that. I also heard that theres a couple new programs that might be able to help people in my situation. Answers from mortgage brokers/loan officers encouraged. I am in Illinois, if that matters. I would like real answers, not just “hey I can help you, give me a call at 555-5555″. Thank you
What is the best way to get a home loan when you are getting divorced?
02
Sep
Soon-to-be divorced mom of two would like financial advice on the best way to get a home loan. Never been a part of the financial end of matters and serious advice would be appreciated.
What type of easement is needed for a mortgage company to let me borrow a home building loan?
02
Sep
I recently bought about 8 acres and to get to my 8 acres I must go through a gate that passes through someone elses land. The other person has 20 acres and to the south side of their land is a road that stretches the entire length from the front gate to my gate. On my warranty deed, there is no mention of this road being or having an easment. Instead there is a grandfather clause on that road and people with land behind mine use the road too. It passes through my land as well. My question is, if I wanted to get a mortgage loan to build a house, what type of easement will I have to get in order for the loan company to lend it to me. I’ve been told that there needs to be an easement in order to borrow money. Where can I get this easement from and do I have to involve the people infront of me in any way? Also, if I wanted to put an automatic gate in the very first entrance where the road begins, who do I have to talk to. Im willing to pay for it, can I just put it up?
There is already electricity there where my land is at because I have a security light I am currently paying for. Does this mean there could be an easement already, just not legalized on documents? What is a center line or center lying easement. I’ve been told that a surveyor can just shoot a straight line from the highway to my gate entrance and document it and this will be enough to get a loan from a mortgage company. How true is this?
Is it better to refinance or get a home equity loan? We have owned our home for 2 years.?
02
Sep
Due to family health issues my husband and I have missed a bit of work over the past 9 months. Because of this a few of our credit card payments were missed and we have fallen quite behind. We are now both back to work full time and are making arrangements with our creditors to try to lower our monthly payments. I have not contacted our mortgage company yet to see what they offer because I am not savvy enought to know the difference. In this situation, which would be better?
Personal Loans / Home Equity Loans?
02
Sep
I got 4 credit cards from 4 different banks. Can I use the personal loan or home equity loan to pay all my balances from these 4 credit cards?
For example, I got a total of $4000 debt, each credit card got $1000 balance, can I pay them all using my Personal loan from Chase?
Because I was thinking like, I can only use the Loan “from Chase” to pay for my debts on Chase.
Is there a difference between Personal and Home Equity Loans?
How easy is it to get a home equity loan? I would like to use that to pay off cc debt.?
02
Sep
Im not quite sure if I should be going to a mortgage broker to apply for one, or just go to each bank individually? Also, are there any out there that do not have a repayment penalty? I am also assuming that once the property sells the loan needs to be automatically repaid.
I would also like to know how this will affect my credit score. Is it better to have an X amount on credit cards, or have that same amount on an equity loan.
Thanks
I already know the whole “you shouldint have gotten yourself into debt” speech. My husband and I paid for our own wedding, therefore the debt.
If my parents want me to refinance their home loan ($150K remaining). What is the income criteria to do so?
01
Sep
My salary is approx. $48K annually and my monthly bills are $1500. I have good credit but I don’t want to go through the hassle if I don’t pre-qualify for the loan. Thank you for your input!
To clarify, my monthly debt for credit cards and car payment is $800 and approx. annual income is $48,000.
Do you have any experience, good or bad, with Quicken Loans for home mortgage?
01
Sep
Please tell me your experiences in dealing with them…Getting ready to close soon & want your opinions.