Can Our Old Home Qualify for Tax Forgiveness if We Rented it? – Kevin

“Dear Jim, Bought a house in 2006 as my primary residence for 185k. In 2009 we receieved an appraisal of the property for 90k from the county. In the middle of 2009, I had to take another job which required a move across the US. With no time to try to sell the house, I … Read more

I’m Thinking of Filing Bankruptcy in Illinois. Can We Keep Our Rental Property? – Fla

“Dear Lewis, My husband and I bought our house in 2007. Refinanced in 2009, Now our house is not worth what I paid and we have a high mortgage payment. I inherited the rental property and bought out my other 3 siblings last year. I have a mortgage on my house that I can no … Read more

Can the Collection Company Force the Sale of Our Rental House? – Stuart

“Dear Lewis, Our Second lien on our current home was charged of.We are now letting our home go into foreclosure. We own a rental which is paid for. Can the second lien holder, or collection agency force the sale of our rental, if so,would we have time to move back there? The IRS Has a … Read more

I Am 3 Months Behind on My Mortgage Payment of My Rental Property. – Janis

Janis “Dear Steve, I am 3 months behind in my mortgage payment on my rental property. My husband was laid off but now employed. I want mortgage Co. to rewrite loan to fixed, now at variable and cannot afford a higher rate come May. With a lower payment and tack the arrears on the end … Read more

My Real Estate Empire is Crumbling and Taking My Credit Down With It. – Chris

“Dear Steve, I have been trying to figure out what to do for months now, and I just need some advice and I have read some of your past responses and it appears you cut right to the point which I like. I started a Real Estate company in 2006. I bought some investment properties, … Read more

Donna Wants to Know “Should I Take My Money Out?”

“Dear Steve, I have my home paid for and owe nothing on my car, I have a rental that I owe $25000 and I have it rented for $475.00 month. My payment is $303 month and my insurance is $33.00 month and my taxes are $100 month. I want to sell my rental but with … Read more