Financing in 11209 : Advice

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Edward Angel…, Real Estate Pro in Bronx, NY
Edward Angelino answered:
Can a management company of a building make you use their financing company and do they have the right?

It might be that the management company only has one lender that has approved this building as a condo. It could be that no other bank is willing to lend on this particular proj ... more
1 vote Share Flag Sun Oct 25, 2009 Financing in 11209
Investor, Other/Just Looking in New York, NY
Investor answered:
I currently own part of a family house. If I mortgage my share of the home to buy and more into a coop a mile and a half away, will I be able to
IRS have several rules. The house must be your primary home. You can only have 1 primary home. The mortgage interest and real estate tax of the primary home is deductible base on t ... more
0 votes Share Flag Thu Oct 15, 2009 Financing in 11209
Mitchell Fel…, Real Estate Pro in 11229
Mitchell Feldman answered:
I own part of a family house which I will be moving out oft. If I mortgage my portion of the house to obtain cash to buy a coop, will I be able to
Dear Ivana:

If you own two properties, even if one of them you are a partial owner, you can only claim one as your primary residence. With the one you claim as your primary residence ... more
0 votes Share Flag Sat Sep 5, 2009 Financing in 11209
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