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?
Dee,

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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