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Ben
Manager
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Land trust for privacy- do existing mortgages prevent
Saturday, May 07 2011 03:04 PM
Desire to place first and second home in trust. Both have conventional bank mortgages. Given the property becomes personal property to the beneficiary can I still deduct mortgage interest on federal return? Do I need to take any actions with my mortgage holder (bank) to move the property into trust?
Both properties are in a suburb of Cleveland Ohio
Ben
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Randy Hughes
Land Trust Expert-40+ years of experience
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Re:Land trust for privacy- do existing mortgages prevent
Sunday, May 08 2011 10:46 AM
Ben,
No problem! Yes, you can still deduct the interest just as you did before you put the property into trust. Also, no need to notify the lender either.
Randy Hughes
866-696-7347
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Ben
Manager
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Re:Re:Land trust for privacy- do existing mortgages prevent
Tuesday, May 10 2011 08:18 PM
I have a primary home, a econd home and two rental properties. Where should I start? ie what product?
Ben
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Randy Hughes
Land Trust Expert-40+ years of experience
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Re:Re:Re:Land trust for privacy- do existing mortgages prevent
Wednesday, May 11 2011 11:14 AM
Please call me to discuss at 1-866-696-7347
Randy Hughes
866-696-7347
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