Marita Jojo
5% vs 20% down which can make more money?
Ready to buy a residential property and planning a 5% down even though will end up paying a mortgage insurance that as per the closing disclosure says $140 for 3-8 years means 14K extra in 8 years roughly but by savi...
Mark Clarke
Restrictions on HELOCs
Can I use a HELOC on my primary residence to complete the purchase of another home which will be my primary residence, paying off the HELOC when the first place sells? Do the rules on this vary according to state?
Kelvin Tian
Can anyone recommend a good software for loan servicing?
Can anyone recommend a software to do loan servicing to track monthly principle and interest payment, preferably send a monthly and annual mortgage statement? Many Thanks!!
Brandon G.
Continual 5 day grace period payment
Our is due on the 1st and the tenant continues to pay rent on the 5th. I have been under the impression that Tennessee has a 5 day grace period for late rent. What can I do, other than a late fee, to mitigate this? ...
John Spina jr
Soon to be 1st property
Hello everyone at BP! My fiancé and I are getting married in 2 years but plan on getting the house this year. We're planning on buying a duplex and getting a 15 year mortgage. The plan is to contribute towards the pri...
Bruce Martin
Pay off mortgage or save the money for next deal?
Hello everyone,I know this is the all too common question that depends on one's strategy and tolerance for risk but I am still uncertain about which way to go forward. I have a townhouse that is cash flowing and I ha...
Andrew Ware
Amortization sweet spot
I rarely ever see anyone talk about amortization. So I'm trying to figure out how I should be thinking about this. In the first years of a loan you pick away at the principal very slowly. Is it worthwhile to use c...
Kaybreh Mathis
Advancing Rent Due Dates
Hello! We just bought an apartment building with many inherited tenants. The old landlord allowed many of them to pay their rent at the end of the month. For obvious reasons, especially because most of these tenants a...
Tracy Sharpe
Texas Pay or Quit (Vacate)
In Texas, on a yearly lease, tenant paying every month. Tenant is late. I want to send a letter to Pay or Vacate. If I send it on Tuesday, the 13th of June 2017, if I give a 4 day notice to Pay or Vacate, what is the ...
Kevin Zou
Does depreciating house on tax return lower borrowing power?
Hey guys,
From what I heard banks normally use your gross income to debt ratio to determine your borrowing power. If I depreciate property value on my tax return to deduct my net income, will that impact my mortgage ...