All Forum Posts by: Sean Peabody

Hello,

When you refinance out of a hard money loan into your LLC does the new mortgage company run your personal credit to see if you qualify?

Hello,

How would I file taxes on rent income that I am recieving from a subject to the existing mortgage deal? The mortgage isn't in my name. This is in NY if that helps. Also what would I & wouldn't I be able to writte off?

Thanks!

@Sean Peabody This is in NYS also if that makes a difference.

Hello,

Is it possible to sell a home with judgements on the title? Would sone of the profits from the sale go toward paying off the judgements?

Thanks!

@Bob Reinhard so it can be sold while in the foreclosure process. But once its foreclosed on the lender takes ownership and then it can't be sold.

Hello,

Can a home be sold if the foreclosure process has already started in NYS? Behind on mortgage payments. The property has not gone to auction yet. Not sure if it is possible to sell it or if a hard money loan would help to purchase it and prevent it from being taken.

Thanks!

Hello,

Can a home be sold if the foreclosure process has already started in NYS? Behind on mortgage payments. The property has not gone to auction yet. Not sure if it is possible to sell it or if a hard money loan would help to purchase it and prevent it from being taken.

Thanks!

@Ashish Acharya Thanks for that info. The property was owner occupied not an investment. Is there a cap on how much he can gift?

@Ashish Acharya He has owned the property for 6 years. By gifting me the profit does that mean he doeant burden any capital gains or personal oncome tax?

Hello,

My father is looking to sell his house but wants the profits from the sale to go to me in my name. Is this possible without a quitclaim deed? The property is in NYS if that means anything.

Thank you!