mortgage/ tax question

[chet everett]

Annoying him is not really a problem at this stage, and the info he shared about this sort of situation NOT being uncommon in your area is rather encouraging. I bothers me that the different lenders are looking at this differently, as I have owned single family homes that had came with associated vacant lot(s) and the lender had no real problem getting the separate titles / parcel numbers correctly assigned as part of one mortgage. The upside of having two mortgages is minor (ability to sell one "semi-detached" dwelling and leave the other side as is) as few people would really want that. The double transaction costs are a negative as well.

As I think you have already found out sometimes getting "all the info" takes more than a simple call, but when people can tell you details about the property it helps to give a more complete picture of what all is involved.

Good Luck!

[Karen59]

Originally Posted by chet everett

Annoying him is not really a problem at this stage, and the info he shared about this sort of situation NOT being uncommon in your area is rather encouraging. I bothers me that the different lenders are looking at this differently, as I have owned single family homes that had came with associated vacant lot(s) and the lender had no real problem getting the separate titles / parcel numbers correctly assigned as part of one mortgage. The upside of having two mortgages is minor (ability to sell one "semi-detached" dwelling and leave the other side as is) as few people would really want that. The double transaction costs are a negative as well.

As I think you have already found out sometimes getting "all the info" takes more than a simple call, but when people can tell you details about the property it helps to give a more complete picture of what all is involved.

Good Luck!

Thanks for the reply, Chet, and the good luck wishes. I will certainly have my lawyer look quadruple-ly into the subdivision, even if I have to pay her extra. As I am unravelling this, I think it was my realtor who thought it could be one transaction, the lender is saying no. That's one lender--I can make phone calls on Monday to other lenders--for now, I have to take a break and enjoy the holiday weekend! Time for a relaxing drink and leave the stress until Monday. Happy new year to you and everyone.