My partner and I are in the middle of buying a repossessed house, however we just found out that a secured loan of £2500 was taken out and is still unpaid! how do we go about buying the house still? can we write it off or will the b
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That lien will have to be paid before you will be allowed to close the loan. I would ask if the lender you are buying the home from if they are willing to pay it. If not, you can use that as part of the deduction you get on your taxes as it will be part of your closing costs. Good Luck. If you need a more detailed answer, feel free to email me at beawareborrower@comcast.net I am always happy to give helpful hints. I am only hold licensing in UT but have managed loans in nearly every state. -
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