I do not know of a way to go back and put a wrap mortgage in place post closing.

In this case, the seller is still responsible for his original loan, and then Ashish's answer is correct: interest deduction belongs to the seller.Once I re-read the original post by Anirudh, I realized that he left both interpretations possible.

Great post!!

I entered criteria into Zillow and then received postings.

It is correct that there is no limit, but some of the aggregators and securitizers who purchase these loans post-close have exposure limits, such as $10 million in unpaid principal balance.

Thank you for the thorough reply, I am not trying to scam- that is why I posted here instead of making her an offer that came across that way.

Once in service, expenses become deductible, reducing taxable rental income.This post does not create a CPA-Client relationship.

So i received a voicemail this AM from a member of their team regarding my posts here on BP.

Since this is a post about our loan shop, I'll highlight that we are a small loan shop (30 employees), family-owned just trying to get more clients by placing their loans well and treating customers well.

Quote from @Tio Sam: Hello everyone,This is my first post/question.