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How Many Months Behind on your Mortgage Before the Banks can Start to Foreclose?
The short answer is, it depends on the type of loan that you have. Is your loan a conventional (fannie mae Freddie mac) or a government insured/guaranteed loan (FHA and VA)? This is also different for residential versus commercial, so I am sticking to residential in...
Is it Worth Refinancing my House to Build an Addition? My Loan-to-Value Ratio Will Still Be 80%.
This is a financial decision and emotional decision that many of my mortgage lender clients are facing. Mainly this question is coming up because the price of moving to a bigger house is pretty high compared to staying put and improving what they have. Even in my...
What Are The Ramifications if You Do Not Claim Your Full Income From Your Rental Properties?
This is a somewhat tricky question. You should declare all income or risk the IRS coming after you. The bigger question is not so much declaring all income (the top line) but clients seem to have questions on whether over deducting on expenses could hurt them. You...