... wife will be buying during the 2012 tax when and IF you can get the FHA loan amount approved for this purpose. Good luck. Hope that you...
3 Answers · Business & Finance · 01/06/2013
This almost looks like homework, but let's take a stab. 1. The S-corp. Did you pay yourself a salary or did you figure you'd wait until you had income? You can probably squeak by without paying yourself, but I hope you...
3 Answers · Business & Finance · 21/03/2012
... than 20% of its value or some arbitrary figure that the lender or FHA dictates.
4 Answers · Business & Finance · 11/02/2012
how could your finances be okay right now, you owe a ton of money on that foreclosure?
2 Answers · Business & Finance · 06/02/2012
...need to pay closing costs, some insurance, and some taxes upfront. FHA will also want to see that you have 6 months of mortgage payments in...
4 Answers · Business & Finance · 05/02/2012
I would suggest a consultation with a local CPA or EA who specializes in small business taxation with some emphasis on rental properties. For depreciation purposes the first hurdle is that can't depreciate the land, only the house...
4 Answers · Business & Finance · 28/12/2011
Some do own, some have trouble saving up a down payment. Even with an FHA loan they need 3.5% down. They might be able to rent a nicer house than they can save a down payment for.
2 Answers · Business & Finance · 19/12/2011
being it's "gifted" there is no tax due. You need to have a letter proving that the money is a gift & not a loan when using for a down payment.
3 Answers · Business & Finance · 20/10/2011