Sentences with phrase «proceeds of the new mortgage loan»

Funds received as a gift and used for the purchase of the property may NOT be reimbursed with the proceeds of the new mortgage loan.

Funds received as a gift and used for the purchase of the property may NOT be reimbursed with the proceeds of the new mortgage loan.

Not exact matches

There is an exception for interest - deductible HELOCs available to homeowners provided they qualify on 2 criteria: They use the proceeds of the loan to make «substantial improvements» to their home, and the combined total of their first mortgage balance and their HELOC or second mortgage does not exceed the new $ 750,000 limit on mortgage amounts qualified for interest deductions.

Many Mortgage REITs were voracious issuers of CDOs, and they used the proceeds to fund new real estate loans, which they packaged into still more CDOs.

Cleveland - based Developers Diversified collected more than $ 500 million in new loans and commitments — including $ 350 million in net proceeds from a new portfolio of mortgages.

«The National Association of REALTORS ® is pleased with the IRS announcement clarifying and confirming that under the new tax law owners can continue to deduct the interest on a home equity loan, line of credit or second mortgage when the proceeds are used to substantially improve their residence,» said Mendenhall in a statement.

You've helped demonstrate to the lender that the home's price has fallen and that to close the deal with the new buyer, the lender will have to forgive $ 10,000 of the seller's outstanding mortgage loan not covered by the sale proceeds.

«The National Association of REALTORS ® is pleased with the IRS announcement clarifying and confirming that under the new tax law owners can continue to deduct the interest on a home equity loan, line of credit or second mortgage when the proceeds are used to substantially improve their residence,» said NAR President Elizabeth Mendenhall.