[SK in CV]

[quote=Nor-LA-SD-guy]
Yes it would definitely encourage rental property investment.[/quote]

Why more than now? (yes, this is a test)

[SK in CV]

[quote=Nor-LA-SD-guy]
Yes it would definitely encourage rental property investment.[/quote]

Why more than now? (yes, this is a test)

[SK in CV]

[quote=Nor-LA-SD-guy]
Yes it would definitely encourage rental property investment.[/quote]

Why more than now? (yes, this is a test)

[SK in CV]

[quote=Nor-LA-SD-guy]
Yes it would definitely encourage rental property investment.[/quote]

Why more than now? (yes, this is a test)

[SK in CV]

[quote=Nor-LA-SD-guy]All this would do is put more money into the hands of people who invest in cash flow rentals,

OK more people would probably rent instead of buy and that may drive down property price for a while, but in the end it will just put more money into cash flow rental investors.

Choose your poison …[/quote]

Other than changing the principle residence pricing dynamics, this would have little effect on rental properties (save for single family homes as rentals). These proposals do not change any rules with regards to deductibility of interest on rental properties, only on home mortgages. (completely different tax laws.)

I would propose that completely doing away with the home mortgage deduction would provide price stability to the market. Interest rates and the availablity of money would have significantly less influence on prices if potential tax savings are removed from the calculation. Fewer variables would produce a purer supply/demand dynamic in pricing. Government policy would no longer subsidize home ownership.

Again, keep in mind, this would have no effect on rental properties. Interest on rental property mortgages is a business deduction, not a personal deduction.

[SK in CV]

[quote=Nor-LA-SD-guy]All this would do is put more money into the hands of people who invest in cash flow rentals,

OK more people would probably rent instead of buy and that may drive down property price for a while, but in the end it will just put more money into cash flow rental investors.

Choose your poison …[/quote]

Other than changing the principle residence pricing dynamics, this would have little effect on rental properties (save for single family homes as rentals). These proposals do not change any rules with regards to deductibility of interest on rental properties, only on home mortgages. (completely different tax laws.)

I would propose that completely doing away with the home mortgage deduction would provide price stability to the market. Interest rates and the availablity of money would have significantly less influence on prices if potential tax savings are removed from the calculation. Fewer variables would produce a purer supply/demand dynamic in pricing. Government policy would no longer subsidize home ownership.

Again, keep in mind, this would have no effect on rental properties. Interest on rental property mortgages is a business deduction, not a personal deduction.

[SK in CV]

[quote=Nor-LA-SD-guy]All this would do is put more money into the hands of people who invest in cash flow rentals,

OK more people would probably rent instead of buy and that may drive down property price for a while, but in the end it will just put more money into cash flow rental investors.

Choose your poison …[/quote]

Other than changing the principle residence pricing dynamics, this would have little effect on rental properties (save for single family homes as rentals). These proposals do not change any rules with regards to deductibility of interest on rental properties, only on home mortgages. (completely different tax laws.)

I would propose that completely doing away with the home mortgage deduction would provide price stability to the market. Interest rates and the availablity of money would have significantly less influence on prices if potential tax savings are removed from the calculation. Fewer variables would produce a purer supply/demand dynamic in pricing. Government policy would no longer subsidize home ownership.

Again, keep in mind, this would have no effect on rental properties. Interest on rental property mortgages is a business deduction, not a personal deduction.

[SK in CV]

[quote=Nor-LA-SD-guy]All this would do is put more money into the hands of people who invest in cash flow rentals,

OK more people would probably rent instead of buy and that may drive down property price for a while, but in the end it will just put more money into cash flow rental investors.

Choose your poison …[/quote]

Other than changing the principle residence pricing dynamics, this would have little effect on rental properties (save for single family homes as rentals). These proposals do not change any rules with regards to deductibility of interest on rental properties, only on home mortgages. (completely different tax laws.)

I would propose that completely doing away with the home mortgage deduction would provide price stability to the market. Interest rates and the availablity of money would have significantly less influence on prices if potential tax savings are removed from the calculation. Fewer variables would produce a purer supply/demand dynamic in pricing. Government policy would no longer subsidize home ownership.

Again, keep in mind, this would have no effect on rental properties. Interest on rental property mortgages is a business deduction, not a personal deduction.

[SK in CV]

[quote=Nor-LA-SD-guy]All this would do is put more money into the hands of people who invest in cash flow rentals,

OK more people would probably rent instead of buy and that may drive down property price for a while, but in the end it will just put more money into cash flow rental investors.

Choose your poison …[/quote]

Other than changing the principle residence pricing dynamics, this would have little effect on rental properties (save for single family homes as rentals). These proposals do not change any rules with regards to deductibility of interest on rental properties, only on home mortgages. (completely different tax laws.)

I would propose that completely doing away with the home mortgage deduction would provide price stability to the market. Interest rates and the availablity of money would have significantly less influence on prices if potential tax savings are removed from the calculation. Fewer variables would produce a purer supply/demand dynamic in pricing. Government policy would no longer subsidize home ownership.

Again, keep in mind, this would have no effect on rental properties. Interest on rental property mortgages is a business deduction, not a personal deduction.

[SK in CV]

Pretty impressive move today. It is now worth approximately 9% of what it was worth August 1, 2008, up from the 7% where it closed yesterday. And up a whopping 680% from where it was in early March, when it was down to less than 1% of its value a year earlier.

[SK in CV]

Pretty impressive move today. It is now worth approximately 9% of what it was worth August 1, 2008, up from the 7% where it closed yesterday. And up a whopping 680% from where it was in early March, when it was down to less than 1% of its value a year earlier.

[SK in CV]

Pretty impressive move today. It is now worth approximately 9% of what it was worth August 1, 2008, up from the 7% where it closed yesterday. And up a whopping 680% from where it was in early March, when it was down to less than 1% of its value a year earlier.

[SK in CV]

Pretty impressive move today. It is now worth approximately 9% of what it was worth August 1, 2008, up from the 7% where it closed yesterday. And up a whopping 680% from where it was in early March, when it was down to less than 1% of its value a year earlier.

[SK in CV]

Pretty impressive move today. It is now worth approximately 9% of what it was worth August 1, 2008, up from the 7% where it closed yesterday. And up a whopping 680% from where it was in early March, when it was down to less than 1% of its value a year earlier.

[SK in CV]

I’m a bit confused by your descriptions of what the current status is, but a couple things that might help….

Almost all non-residential loans (including apartments of more than 4 units) written in the last 20 years are due on sale. Since you say the property is newer, it’s highly unlikely that the loan is assumable by contract. That doesn’t meant it can’t be assumed, just that it would require negotiation with the lender, probably involve the payment of points/fees and underwriting just as if it is a new loan.

There is no way you will be able to assume an existing loan at foreclosure by that loan. The possibility exists that you may be able to negotiate with the lender prior to TS, including negotiating the arrearages. Since you already hold the junior loan, you obviously have leverage as well as the 2nd most to lose.

If you were to foreclose on your note, the whole thing may be different. It sounds like it’s too late for that to happen? I’m not familiar with AZ law, so it is possible that a foreclosure of a junior lien does not trigger a due on sale event, but in any case, it does put you in a stronger negotiating position.

Be careful, if you’re not in the right place at the right time, with the right amount of cash on hand, you could easily be wiped out. And be careful not to throw good money after bad. While Yuma hasn’t been hit near as bad as the Phoenix area (it never went up as much either), the rental market in most parts of Yuma really sucks right now. Lots of vacancies. And there is no good reason to assume that it will ever come back. It is over-built and there is almost no good reason for anyone to ever want to buy (or live) there.

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