How to pay off a reverse mortgage isn’t tricky. You can cancel during the 3-day rescission period.
After that you can make payments, or sell your house to pay off the loan.
If a person dies and you inherit the property you won’t owe more than 95% of the appraised value, even if they owe more than the house is worth.
Are you responsible for your spouse’s medical debt? Maybe if you live in a community property state or a doctrine of necessaries jurisdiction.
You also are if you co-signed for the treatment.
Your aren’t, though, for obligations taken on before marriage or after divorce.
What happens to debt when you die? The estate pays unsecured, like credit cards and medical bills, until it runs out of money.
Secured, like mortgages and car loans stay with the property.
Life insurance and retirement accounts go directly to the beneficiary.
What is crowdfunding real estate? It is a new business model that allows average people to invest in large commercial projects.
It can pay high dividends, but it is also very risky. Its not for everyone.
However, if you have a high risk tolerance and don’t mind your money tied up for a long time this may be a good way to diversify your investments.
How does an LLC get a mortgage? Banks lend to businesses to buy property, but they have different terms than primary residences.
A corporation can get an FHA loan, but there are many restrictions.
Be wary of schemes that avoid taxes by using an LLC to own your home.
How to transfer property to an LLC can be easy without a mortgage, but lender don’t want you to change ownership. Check with your bank before you do anything.
Should you, though? that depends on if its your primary residence or an investment.
There are many liability and tax shelters available. Make sure you choose the right one for all of your properties.
Should real estate be in a trust? That depends on the type of property and your situation.
If it generates income and liabilities, usually rental and other investment, it should be in an LLC.
Your primary residence should be in a trust, and you should consider a domestic asset protection type if you have a lot of equity.
How to transfer real estate into a trust requires careful planning. Assess, transfer, and distribute your property carefully
You must deal with many tax, title, and insurance issues to set it up right.
The time you put into setting up your living trust correctly greatly helps your loved ones later on.
How to syndicate a real estate deal can be complicated. Sponsors find properties and then organize the business, and sell the opportunity to investors.
Fees, Return and taxes are all important considerations you should think about before you invest.
Real estate syndications pool investors’ money under a sponsor who invests in a single commercial property.
The profit potential is high, but so are the risks.
Crowdfunding platforms help match you with investment opportunities.