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Tag Archives: rental-property

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 decided to rent it out ... 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 longer pay for. I also ... 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 judgment of $20,000 against the ... Read More »

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

        Ready to Collapse

        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 of loan, I can keep ... Read More »

          How Do We Get Out of Debt Without Hurting Our Credit? – Amanda

          Ready to Collapse

          “Dear Steve, We have a LOT of debt and have some rental houses. Have several cards that are maxed. We still barly make all the bills on time, we don’t want to lose our houses, and we really don’t want to get bad credit. So what do we do? How do we get out of debt without hurting our credit ... Read More »

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

            Ready to Collapse

            “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, did some rehabs, and made ... Read More »

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

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              Donna “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 the economy I will ... Read More »

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