>> If you plan to negotiate a loan modification instead of an early payoff, that may be challenging.

@Lamont Hopewell - Have her call the bank and request a loan modification.

Fair housing laws state:If you or someone associated with you:Have a physical or mental disability (including hearing, mobility and visual impairments, chronic alcoholism, chronic mental illness, AIDS, AIDS Related Complex and mental retardation) that substantially limits one or more major life activitiesHave a record of such a disability orAre regarded as having such a disabilityyour landlord may not:Refuse to let you make reasonable modifications to your dwelling or common use areas, at your expense, if necessary for the disabled person to use the housing.

So the judge wouldn't force the note holder to try to do a "loan modification" so the borrower can keep the property, right?

The deductions allowable are those items allowed as deductions by chapter 1 of the Code which are directly connected with the debt-financed property or income therefrom (including the dividends received deductions allowed by IRC 243, 244, and 245) except that: The allowable deductions are subject to the modifications provided by IRC 512(b) on computation of the unrelated business taxable income, and The depreciation deduction under IRC 167 is computed only by use of the straight-line method.

But many of or much of your core business docs can certainly be used over years of dealings but you do need modifications from time to time.John Chapman is giving good advice, you need to see an accountant starting out, the proper designations for tax purposes is very important. :)

I am looking for options to finance an owner occupied SFR purchase in UT. I am looking to see if there are options available for a loan that requires 10% or less down.

I could use a conventional loan with 20...

HAMP was supposed to solve this issue with a standard set of guidelines.Serviers website for HAMP adminhttps://www.hmpadmin.com/portal/programs/foreclosure_alternatives.jspIt was so well put together a form letter was to go out to borrowers that did not get a modification the letter basically stated here are your options, one option included a short sale and $x price all the borrowers were to do was find a real estate agent to handle the transaction.

The act applies to originators and loan negotiators (forbearance/modification) dealing with the origination event or any event where the public negotiates with a mortgagee such as modifications.

Few modifications on my personal investment;1 paid cash so mortgage2 remodel cost ~$500 in paint3 property management being done by me, no recurring expense4 tenant covers all utilities Result, income = $1650/mth less costs of insurance, taxes and maintenance of about $400/mth generating a net of $1250/mth.