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22 February 2024 | 6 replies
My question is, in this circumstance, would I qualify for, one, FHA loan (the first mortgage is conventional); two, when I apply for pre-approval, can I not say it's my first home even if I qualify for an FHA (assuming I do).
23 February 2024 | 65 replies
If the decedent held the property for more than one year, and you sell it within one year of inheriting it, the gain or loss would typically be treated as long-term.Lastly, it's imperative to consult with a tax expert that can tailor advice unique to your circumstances and tax laws applicable to your jurisdiction.Feel free to reach out with any further questions/concerns.Sincerely.
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22 February 2024 | 9 replies
Every time I've seen a failed or failing PMc, I also not a total neglect or ignorance to at least 1 of these functions, and something to a incorrect thought that they could run a PMc just doing/focusing on 1/2 of the above.
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21 February 2024 | 4 replies
These are extenuating circumstances but you fit the bill in having to drive that distance each day.
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21 February 2024 | 14 replies
Don't neglect theming, even for a smaller property.
21 February 2024 | 6 replies
For some (collections 5+ years ago and only once), you can listen to the circumstances and then decide.
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20 February 2024 | 11 replies
The ownership and use periods do not need to be consecutive.Exceptions to the Two-Year Rule:If you're selling due to a change in employment, health reasons, or other unforeseen circumstances, you may be eligible for a reduced exclusion.In cases of unforeseen circumstances, the IRS may prorate the exclusion based on the time you spent in the home.In your situation, if you sell the property before meeting the two-year ownership and use requirement, you may not qualify for the full exclusion.
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20 February 2024 | 6 replies
Just depends on your circumstances.