Question by Michael R: I recently started a new business venture as a loan officer, and hospital does anyone want to be my first customer?
Also if there are any questions about home finance that I can help you with, cialis 40mg I’d be happy to answer them.
Best answer:
Answer by Joseph T
I’d like to be your first customer, can you loan me $ 5? I am hungry.
Give your answer to this question below!
HARP 2.0 Program Allows Many Wisconsin Homeowners to Take Advantage of …
Waukesha, this WI — (SBWIRE) — 03/05/2013 — More people than ever with homes in distress are able to refinance under the HARP 2.0 program. This bodes well for homeowners looking to reduce their interest rates and lower their monthly mortgage payments.
If you would like more informaiton please visit here…
Not Harp 2 Eligible? Refinance Anyway
As consumers know, more about the Making Homes Affordable Program aka Harp 2 Refinance allows people to refinance so long as the loan is owned by Fannie Mae or Freddie Mac, with out any loan-to-value restriction. Consumers could also successfully refinance …
If you would like more informaiton please visit here…
Jumbo home loan business is booming
At least in the sector in which Redwood specializes: jumbo home loans, viagra generally over $ 625, search 000 in affluent areas, page that are not backed by federal agencies such as Fannie Mae, Freddie Mac and the Federal Housing Administration. In a letter to … Little …
If you would like more informaiton please visit here…
Westland seeks those in need of emergency home repairs
A homeowner with income at half the average median income for metro Detroit would be eligible for a zero interest loan. For a person, that means $ 22,550. Depending income level, the loan could be subject to 3 or 5 percent interest rates. “We used to …
More informaiton please visit here…
Issues in mortgage sale
Financial hardship: A consumer who enters into a home loan contract at a particular annual interest rate has no clue what the future has in store for him/her. Any change in their earning ability, interest rate and in real estate prices make homeowners …
More informaiton please visit here…
FHA Pullback Boosting Insurers Traders Left for Dead: Mortgages
Now, cost as FHA has raised premiums to help cover a $ 16.3 billion budget shortfall, insurers have made inroads into the market, increasing their share to 35 percent of policies in the fourth quarter, up from 26 percent in the first, according to Inside …
If you would like more informaiton please visit here…
New tool offers info on down payments
programs by city or address for publicly and privately funded assistance programs, including FHA/VA, HUD, affordable fixed-rate mortgages, rehab loans and more. Home buyers just need to enter basic information in the resource directory, such as where …
More informaiton please visit here…
Question by Leo: Is there any tax deduction for home loan in other countries ?
If a person carries a home loan in other country (other than US) is there any tax deduction(relief) given by IRS ? A part of his earning in US is being used to pay home loan EMI in other country.
Best answer:
Answer by Ken
Mortgage interest on a second home is deductible on schedule A as an itemized deduction, and even if the second home is located outside the U.S. However, if you reside in the U.S. and the lender is a foreign person/bank, then you are required to withhold 30% tax on the interest portion of the payments, unless a lower treaty rate applies. Depending on the jurisdiction, a treaty may apply to reduce or eliminate the withholding tax. However, if you want to rely on the treaty, you need to obtain a Form W-8BEN from the foreign lender where the lender certifies that it qualifies for treaty benefits. In either case, you will need to also file Form 1042 and 1042-S reporting that you made interest payments to foreign persons.
Add your own answer in the comments!
Ken, the 1042-S does NOT apply here. You read publication 515 backwards.
The property is located outside the US. Therefore the interest paid on it is NOT US-source income to the bank. Withholding 30% and issuing a 1042-S would truly gum up the works. The borrower would be dunned for failure to pay their loan and the bank would have trouble getting the money back.
This is interest paid on any type of debt instrument that is secured by a mortgage or deed of trust on real property LOCATED IN THE United States, regardless of whether the mortgagor (or grantor) is a U.S. citizen or a U.S. business entity.