You'll have to close in your personal name.(2) Your HomePath loan will most likely have a "due on sale" clause that states the entire loan balance is due at the time the property is sold.

Loan balance is 560k.

I'm kinda leaning toward paying these suckers off, getting about half of the houses in the portfolio free and clear, and maintaining that balance until it gets time to hang up my hat at work.Whatcha reckon?

In total you will have to pay 45k to get the 355k to rebuild your house--(10% penalty) 40k + 1k (deductible) + 4k (remaining difference balance) to activate a 355k dispersal = 400k balance for construction.  

If you were to withdraw the whole balance, you would be pulling out 110K, not 115K.

There is a delicate balance between quality of work and price.

So my guess is that he will balance the needs of section 8 and look for a path for these individuals to get out of the system.

Freddie Mac and Fannie Mae each have some excellent Small-Balance loan programs.

The Financial Functions like PV, FV, Rate, etc. will be needed.I didn't show any of the formulas, but, for instance, in the above, the Mortgage Payment in Cell B15 uses a Formula, PMT.Similarly, the Mortgage Balance when I calculated the Sale of the Property in Cell B20 uses a Future Value (FV) Formula.Anyway, I'm not teaching anymore.

If you use married filing separate status, the limit is halved to $500,000.Under a second grandfather rule, the TCJA changes do not affect qualified residence interest deductions on up to $1 million/$500,000 of home-acquisition debt that you took out before 12/16/17 and then refinanced later — to the extent the initial principal balance of the new loan does not exceed the principal balance of the old loan at the time of the refinancing.Home-equity debt treated as home-acquisition debt: Say you spent or spend the proceeds of a home-equity loan to build, buy, or improve your first or second personal residence.