All Forum Posts by: Chris Johanski

What does he mean "Gotta outbid the time hut"???

Thank you.

A straight answer...thx Steve :)

If the existing mtg. for the original owner is 5% and the rate on the CD for the tenant buyer is 6%, does the tenant buyer get to deduct the full 6% or the difference, or only 1% ?
Thank you.

First, I really do appreciate the detailed response. 2nd; in the scenario where there is a mtg. on the house, let's say at 5%, with the original owner, and the buyer signs a CD at 6%, the buyer "DOES" get to claim that mtg. int. tax deduction?
Thank you in advance.
Chris

@Steven Hamilton II-Not sure I understand the answer. Ok, 1st ?: If original owner does NOT have a mtg., the house is owned free and clear, when I sell the the new buyer, on a 30 year am. @ 6%, can he/she claim the mtg. int. tax deduction? 2nd ?: If the original owner has a mtg w/ a rate of 5%, and I sell on a CD w/ rate of 6%, then can the new buyer claim the "FULL" mtg. int. tax deduction?
Thank you.

state of Minnesota, can a buyer on a CD claim the Mtg.Int. Tax deduction if he/she is making the mtg. payment or enough of a payment to cover the mtg? Also, what if the house has no mtg. on it with the original owner, can the buyer on a CD claim the Mtg. Int. Tax Deduction?
Thank you.
Chris