![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1720373/small_1694605009-avatar-chaseg50.jpg?twic=v1/output=image&v=2)
1 May 2020 | 9 replies
For example, if I needed 100k hard money to buy a house, and owed 10% per month, after 6 months that would be(The time needed for a refinance) that would be 60k?
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1698409/small_1672236199-avatar-tadi.jpg?twic=v1/output=image&v=2)
1 May 2020 | 2 replies
1) Owner has been filing chapter 13 bankruptcy to avoid losing her home so no mortgage- there is a lien on the home2) behind 21k on property taxes3) needs minor repairs and updating maybe 8k ARV: 90K Rents: 1200Mortgage owed when she filed for brupcy: 45k left on loan.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1532454/small_1621513279-avatar-rachelr58.jpg?twic=v1/output=image&v=2)
5 May 2020 | 9 replies
If you are ok with the principal paydown being considered your investment, then fine.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1680021/small_1621514727-avatar-joez57.jpg?twic=v1/output=image&v=2)
30 April 2020 | 0 replies
So if we agreed on 1,000 a month, for 3 years I would owe $64,0004.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/853261/small_1621504475-avatar-realtor_ryan.jpg?twic=v1/output=image&v=2)
1 May 2020 | 6 replies
That is Why your interest portion decreases slightly each month....due to the amount of principal you paid the prior month.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/672787/small_1694554985-avatar-kennethg22.jpg?twic=v1/output=image&v=2)
1 May 2020 | 14 replies
Alexandria Ocasio-Cortez said during a live event on Facebook this week.A moratorium on evictions doesn't mean rent is not owed; it simply delays the eviction.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/432948/small_1695070490-avatar-kevina33.jpg?twic=v1/output=image&v=2)
1 May 2020 | 4 replies
Please note that per the multiple loan rules, the amount of the loan must be reduced by the highest outstanding balance of any other 401k participant loan over the prior 12 months (regardless of whether such other loan is currently outstanding).Monthly or Quarterly Payments: The loan must be paid back in equal monthly or quarterly payments of principal and interest.Interest Rate: The interest rate is equal to prime plus 1% (or CD rate plus 2%) and is a fixed rate that is set at the time that the loan is taken.Term of the Loan: Five-year term unless the proceeds of the loan are used to purchase a primary residence in which case the term of the loan may be up to 30 years.First Payment:For monthly payments, the first payment that would otherwise be due is delayed until January 2021 (e.g. if the first monthly payment would have been due on May 15, 2020, it will be due on January 15, 2021).For quarterly payments, the first payment that would otherwise be due is delayed until the first quarter of 2021 (e.g. if the first quarterly payment would have been due on May 15, 2020, it will be due on February 15, 2021).EXISTING LOANS:The CARES Act which was enacted to provide relief to individuals impacted by COVID-19 allows for increased 401k loans and more flexibility for repayment of these loans.Specifically, you must be an individual who meets one of the following conditions to demonstrate that you have been impacted by the crisis (and it will be your responsibility to retain documents in your files that demonstrates that you are a qualified individual):Individual who is diagnosed with COVID-19, with a CDC-approved test;Individual whose spouse or dependent is diagnosed with COVID-19, with a CDC-approved test; ORIndividual who experiences adverse financial consequences as a result of being quarantined, furloughed, laid off, having work hours reduced, being unable to work due to lack of child care due to COVID-19, closing or reducing hours of a business owned or operated by the individual due to COVID-19; or other factors as determined by the Treasury Secretary.If you meet the above conditions:You may delay making any 401k loan payments due between 3/27/2020 and 12/31/2020.You must commence making loan payments in January 2021 (or the first quarter of 2021 if your loan payments are due on a quarterly basis).If you elect to delay making such loan payments, the term of your loan will be appropriately extended.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1267667/small_1621510823-avatar-andref27.jpg?twic=v1/output=image&v=2)
2 May 2020 | 6 replies
Thing is he still owes 210k on the house.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1732413/small_1621515117-avatar-lbh2.jpg?twic=v1/output=image&v=2)
1 May 2020 | 0 replies
Asking for a friend:I have a friend who has a 30 year mortgage SFH she paid $150K for back in 2000; now owes $70K mortgage balance; home value $200K; wants to take $20K out to get into REI like me.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1514362/small_1621513106-avatar-ondrejb3.jpg?twic=v1/output=image&v=2)
2 May 2020 | 1 reply
Purchase price $250k (5% down conventional at 4.5% interest) Principal , Interest, Taxes and Insurance = $1463/month down payment 13k1600 sqft 3bedroom 2 bed house.