Varika Pinnam
How do you calculate how much principal you've paid off and home equity you have?
Listening to one of Brandon Turner's books and he mentions this (https://www.biggerpockets.com/blog/plan-to-make-a-million)My question is how do you calculate your loan paydown for the principal and how much equity yo...
Gabe K.
Loan Mod: what terms would you use here?
I own this paper and the borrower made a solid offer to start paying $6000 up front and $700/month. He has a 6-figure income and can afford it. Here are the other numbers:MV = $50k and decliningUPB + arrears = $211k...
Derek T.
Need help calculating the principle balance- bought junior lien
So I bought a junior lien and got the payoff and reinstatement amounts. I can't figure out what the principle balance will be if I choose to just reinstate the loan. Here are the major numbers I'm working with. Unpai...
Brendan Blake
Math question
Say I have this example
Rental Property: $100,000
Loan Amount: $75,000
Loan Rate: 5%
Years: 30 Year Amortized
Monthly Payment amount: $402.62
LTV ratio: 75%
My money is bei...
Armel Bayot
What's the Smart use of a HELOC?
Planning to refinance my primary residence and get a HELOC. I've just been saving money to fund my first rental property but looks like my primary residence has gained some good amount of equity . Read some articles t...
Marty Gangler
1099-c on a short sale in 2012 -rental that was primary
Hello. I had a house in the suburban Chicago area for 5 years. The first 3 years it was a primary residence. Then once we decided to increase our family we bought a new house and converted the first house to a rent...
Paul Winka
When is loan interest considered income?
I do private lending. I have a primary borrower. When a transaction closes, the principal and the interest are rolled to another loan. Thus, I never touch any of the money. Is that interest considered income for tax p...
Ben Kirchner
HELOC repayment on adjustable interest rate?
I'm looking into taking out a HELOC for a future investment. I understand the HELOC fixed rate repayment (just like a mortgage). What I'm not sure I understand is the HELOC repayment process on a variable interest r...
Jerry Padilla
Only Exceptions To Qualifying For A Second FHA Mortgage.....
https://www.biggerpockets.com/blogs/5110/blog_post...The only circumstances in which a borrower with an existing FHA insured loan for a principal residence may obtain another FHA insured mortgage on a new principal re...
Brad Havens
Sheriff's Auction Bank Bid Estimate on HAMP Property
I'm looking at a Sheriff's Auction for a property which was refinanced under the Home Affordable Modification Program (HAMP). The result of this refinance was two separate principal amounts, a 'current' principal amo...