I am a commercial broker and small balance retail developer.Franchisee anything under 50 units generally a lender will not give the greatest terms.

Since I always pay on time, the credit cards company always offer me 0% balance transfer for 12 to 18 months.

Good for you.Or, is that that your current balance is $203,000 (i.e. for the refi) and you prefer not to consider your "equity/down payment" in the deal from 2 years ago, and in paying 24 monthly payments???)

If I could wave MY magic wand on your behalf, you'd buy this property with about $5,000 down, and the balance on a note at 4% with a balloon payment due in 5 years. :) 

If you folks shared some of your fails (we all have them) it would help balance the view.

Down Payment of $415,000 looks like the difference of the Selling Price to existing Loan balance.

Balance owing under the contract is $12,000, but that is the hold back pending final inspection and punch list.

It's horrible from an ROI perspective but *if* I need the money I don't want to have to worry about minimum balances, dropping below a balance that might initiate a monthly fee of some sort, etc.  

The unpaid mortgage balances after receiving any FEMA money or insurance payouts (given they even had flood insurance which a great deal of them didn't) would mean a foreclosure or short sale process.

He will pay down the balance in the next 3-5 years for which I will probably create an agreement.Questions:Without the transfer of the mortgage from my name to another entity, can I remove this off my books(taxes) and realize the suspended losses?