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Updated over 1 year ago on . Most recent reply

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13
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3
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Can my trust issue public mortgages?

Posted

If you see below, I got good info on my initial question. Now I have a followup. 

Can I use my revocable trust to issue public mortgages? I see many who can't qualify so can a hard money interest-only mortgage loan be issued from a revocable trust? I would probably need a license for it I'm sure, right? Is it worth looking into or is it a major regulation nightmare?

Would the borrower be able to write off the interest on their taxes? 

Thanks in advance.

Hello, I am taking a shot here, I can't find this online 

If I have a funded revocable trust, can I use it to issue hard money loans for real estate publicly? If so how does it work? Is it legal and are there tax benefits/risks? 

thanks for any guidance

Most Popular Reply

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118
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61
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David C.
  • Lender
  • Los Angeles, CA
61
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118
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David C.
  • Lender
  • Los Angeles, CA
Replied

@Martin A Phillips

If you have loan servicing they will to the tax statements for both lender and borrower.

If not, it's my understanding borrower is required to 1099 you as lender, unless you are a corp.  I'm not a tax person.

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