I bought a new house and havent sold the first one yet? Can i deduct mortgage interest from both? What about real estate taxes? Both houses are in NY city.


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    I have a poor credit score, but owe very little on my house. I have lots of equity and would like to eliminate the bad debt with a home equity loan. What reputable companies can help?


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      Here goes. I bought a house 50-50 with my cousin with zero down. Recently she got into a car accident and doesn’t work. She gets some money from insurance but SHE said she can’t afford her half of the mortgage and wanted to refinance in my name and my fiances name. We got the loan and all the paperwork is complete. She hesitated BIG time signing the quit claim from the title company. She wants to get PAID! So we bought for 290K and the house appraised for 312K. Payoff was 292K. The quit claim fees are 2500 bucks for her to get off title. The closing costs were 7k. Once again she wants MONEY! Since we didn’t actually "sell" the house she doesn’t think she’s entitled to have to pay closing costs because I got the house. I don’t think this is fair. I don’t want the house but the market here is too slow and everything sells for about 10% under appraisal. Selling isn’t really an option. She eventually signed the quit claim and I wrote up a little letter stating she has to pay (taken out of her 10K "equity")half of closing, half of the home appraisal, and her half of the quit claim. I offered her about 500 bucks more than the actual numbers shown – I offered 4k, the numbers showed about 3500. My questions is can she take legal action against me to get more money than I’m offering. She signed my little letter with the amount and my 12 month intention to pay. Not a legal document but I can’t afford legal fees. What can she do? I don’t trust her one bit. Once again, all paperwork is submitted and the loan should fund on Wednesday. Thanks in advance guys.
      OOPS. Didn’t mean to put it here on small business.


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        Hi! I acquired my house thru Pag-ibig loan (government loan) 3 years ago… It is 25 years to pay and I’m currently on time paying it. However, taishin real estate (the developer of the house) just sent me a mail asking for Php6,000.00 payment for the mortgage and transfer of the land under my name. They show me the title that it had been transferred to my name. We never had an agreement that I will be paying any extra money aside from the equity I payed to them and the Pag-ibig loan I made should settle the remaining balance to them and I should be paying only to Pag-ibig now.

        I inquire on Pag-ibig and they said it is between me and the developer… They never informed me that I will pay any amount for them to transfer the title under my name… Do I really need to pay this amount to them? I can pay the amount but the idea of them making charges without my prior consent/knowledge is I think not right… And the agreement before when they were selling the house is the only payment I need to give is the equity and Pag ibig loan… Then after 2 years they will transfer the title to me automatically… Then suddenly they will send a mail asking for certain amount for mortgage and transfer of the title.
        If I get a lawyer, might as well pay the Php6,000. Less hassle . I can pay the amount but charging for something that we didn’t agreed about is for me is not right… it is like a hidden charges.


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          I am looking to refi my home mortgage and got a suggestion to check out home equity loan. Need help


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            According to a friend’s CPA, there is an account one can setup where you get money out of rental real estate that has equity. This is not some type of mortgage loan: you can setup some sort of account, and then take cash funds out. This does not make any sense to me; I am wondering if it can be done. Serious answers get my attention!


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              I took a home equity loan out a while ago and in this market, my equity has dropped considerably. If I were to sell my home, I could pay off my 1st mortgage, but I’d still have a balance of about ,000-,000 on the 2nd mortgage. Do lenders transfer 2nd mortgages to a new home?


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                I am 46 years old. My husband is 50 years old. The rate is 9.25%.


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                  We are looking for a home about 0,000 and we have about ,000 in Private student loan debt at 7%.


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                    I am looking into getting a home equity loan to consolidate some debt. I just read that banks will use the lesser of the purchase price or the appraised value in determining how much to lend you. Is this right, or do they really use the difference between the appraised value and what you owe on your mortgage? Does anyone know what interest rates are looking like right now for someone with mediocre credit scores?


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