The two could actually become one.It’s a no bueno situation.

Luckily, the layout of the lot and the house makes this possible.Here are my questions for anyone familiar with this kind of situation, especially in St.

But there are implications to that strategy so be sure to discuss your specific situation with qualified tax expert as this is not a tax advice and I’m not a tax expert. 

It's more important to look at your vocation and lifestyle in these situations and work backwards from there. 

Owning property can be expensive and not having cash on hand to deal with situations that come up can put you in a really bad situation. 

I have a similar situation and questions for the experts. 

A HELOC would be my ideal situation but credit is not high enough.

This question is probably has a simple answer, but I am the first in situation like this.

These are reported and "retained" on IRS Form 8582.Of course, if you are unsure or would like additional guidance in determining what might fit your specific situation, please reach out to a CPA/Tax Professional who may be able to assist.

It could then possibly be easier to follow that up with a rate/term refi if/when rates drop and get back into a conventional loan (if that would work for you or if that fits your situational goals).