Home being left to me that has a non-transferable loan, and no death insurance on the loan, what do I do?
Jun 25, 2009
in
Private Real Estate Loans
I had asked this question in 'Real Estate', but it was suggested that I post it here has well. Unfortunately, my Mother was diagnosed with lung cancer at the beginning of the year, in her will, she has left her house to me, where my family and I currently live as we have cared for her for years. There is a loan on the house which is through a private lender, and there is no death insurance on that loan. The loan i
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2 comments
KillNEO on June 25, 2009 at 8:27 pm
Rent it out and Negative Gear it. You will get some great tax deductions and if anything reduce your yearly taxable income!
Crazeddoglady on June 25, 2009 at 8:27 pm
You could try to refinance it if you have to keep it. Otherwise, move and sell.