Steven Hamilton II If back taxes accrued by the seller are assumed and paid by the buyer at closing, can the buyer deduct them if the property is immediately rented or available for rent?

Therefore, ask for a little higher don't sell yourself short.What banks list at is often a function of state law, the amount required to pay off the debt accrued and will ofetn be different than the :market vvalue!

Do you write a check back to them each month or do you accrue the credits and send checks out at certain points in the year?

It seems like the benefits of adding new insulation would accrue to the tenants through lower utility bills, not to me.

Publication 535 states " Generally, mortgage interest paid or accrued on real estate you own legally or equitably is deductible." and "Certain expenses you pay to obtain a mortgage cannot be deducted as interest.

If not, then you'd have a renewed judgment spelling out the correct amount and accruing interest that you could record in all in the counties where the investor is active.

Interest only loans accrue interest and you will owe more at refinance than what you initially borrowed which will eat up your equity.You really need to look at the end game and find out if refi is going to be possible.

The only way to know how payment applications are made and how interest is accrued is to read the note terms, don't assume additional amounts paid at other than the due date will reduce costs

I'd guess your amortization table amount may be off by $15K-$20K after accrued mortgage payments, late fees, legal fees, etc.

Foreclosure proceeding requiring 30 or more days under state laws would not be effected, the intent requiring at least 30 days notice prior to any proceeding to secure collateral.If the MH is taxed as RE and RE is included then the default provision would be according to state foreclosure laws.No prepayment penalty would be allowed.Payments would be first applied to accrued interest, then to any late fee not in excess of ten percent of the payment required or $25.00, whichever is greater, then to principal outstanding.Servicing fees by third parties would be required to be included to the qualifying ratios of the loan.