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All Forum Posts by: Nancy Lucca

Nancy Lucca has started 25 posts and replied 39 times.

I just want to know every trick in the book. And I can still use the startegy if tenants are paying it off. Better to pay it off in 3-5 years rather than 30 right?

Has anyone heard of this. There’s a website that shows u how to do it. Don’t know if I want to give out the secrets. But it’s from an ex banker who said the bank doesn’t make any money on a line of credit. So people can pay off their mortgage super quick with this method.

I’m talking about for a personal residence not an investment property at this time.

Is the housing market taking a downturn yet? I want to buy but am starting to feel I should hold out for a bit. How long before we see a drop in housing prices? I’m starting to see a little drop in Orange County, ca already. 2 bed/2 baths are in the 330k when a year ago u couldn’t find anything under 400k.

Post: Is MIP and PMI the same thing?

Nancy LuccaPosted
  • Posts 42
  • Votes 5

Is Mortgage Insurance Premium and Private Mortgage Insurance the same thing? Or will there be 2 charges if I were to buy a house with less than 20% down. Is it just one or the other or do people have to pay both MIP and PMI?

Post: Is MIP and PMI the same thing?

Nancy LuccaPosted
  • Posts 42
  • Votes 5

Is Mortgage Insurance Premium and Private Mortgage Insurance the same thing? Or will there be 2 charges if I were to buy a house with less than 20% down. Is it just one or the other or do people have to pay both MIP and PMI?

Post: Opportunity Zone tax credit

Nancy LuccaPosted
  • Posts 42
  • Votes 5

Grant Cardone made it sound like u buy a property in a zone and u don’t have to pay the property taxes for 7 years or something like that. He didn’t mention anything about a fund.

Post: Opportunity Zone tax credit

Nancy LuccaPosted
  • Posts 42
  • Votes 5

Is the Opportunity Zone tax credit for only investment properties or is it for personal residences too?

Is there such a thing as putting 5% down, 80% first loan and 15% 2nd loan line of credit. And you don't have to pay PMI? Also helps you pay off your mortgage faster. What do you need to do to qualify for this? What lenders offer it?

Is there such a thing as putting 5% down, 80% first loan and 15% 2nd loan line of credit. And you don't have to pay PMI? Also helps you pay off your mortgage faster. What do you need to do to qualify for this? What lenders offer it?