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Is there any way to get homestead exemption on a second home bought for my mom?

We bought a second home near ours so my elderly mom could live in it, and our lender structured it as owner-occupied under a Family Opportunity Mortgage since she cant afford her own place. Only my spouse and I are on the title, and now the county says homestead exemption only applies to the owner on title, so her place is taxed as non-homestead. Is there a legal way to fix this, like adding her to the deed, without messing up our mortgage or our own exemption?

5 Answers

What trends should I be aware of?

9 Answers

Does a group home moving in nearby actually hurt resale value?

A group home just opened next door and the yard isnt kept up. We werent planning to stay forever anyway. Has anyone actually seen property values drop because of a group home nearby?

6 Answers

I need advice on home equity loan to avoid foreclosure

I am a retired senior and I'm about to lose my home to foreclosure I need advice on equity loan

5 Answers

found out there back taxes on my moms old house and i want to sell it, do i gotta pay it off first or can it come out of

found out there back taxes on my moms old house and i want to sell it. do i gotta pay all that off first or can it just come out of what i sell it for

6 Answers

my house has a lot of stuff wrong with it and i just want to sell it as is, does that mean im off the hook if the buyer

my house has a lot of stuff wrong with it and i just want to sell it as is. does that mean im off the hook if the buyer finds problems after they move in or no?

5 Answers

What is the best way to ask a seller to cover closing costs in the current market?

My partner and I are first-time homebuyers looking at a condo that has been sitting on the market for over sixty days. Since we are stretching our budget to cover the down payment, we are considering asking the seller for a credit toward our closing costs. Is this a common request when a house isn't selling quickly, and how can we frame the offer so it doesn't get rejected immediately? We want to make sure our offer remains competitive while managing our upfront cash.

9 Answers

Can I fight an HOA special assessment that skipped the required vote?

Our HOA board just hit all 300 homes with a special assessment to fix a community feature thats been falling apart for years, but they never actually held the open, announced board vote that Texas law requires for something like this. Nobodys really disputing that the process was skipped, so now Im stuck deciding whether to formally contest it as invalid or just let it go so I dont stir up drama with neighbors who want to move on. The fix probably needs to happen either way, so Im not sure fighting it actually gets me anything besides a headache. Is it even worth pursuing at this point, or should I just pay it and move on?

5 Answers

Does it make sense to buy a house for my aging parents instead of them renting?

My parents are about 70 and have been renting the same apartment in Texas for 10 years, paying $2000 a month, and my dad whos self employed cant qualify for a mortgage on his own because lenders only count part of his income. My husband and I make around $200-230k and still owe about 210k on our own house, but we're considering buying them a small place with a yard using a Fannie Mae rule that lets an adult child buy a primary home for a parent who cant qualify alone. They'd put their whole 100k savings down and my dad would cover most of the new payment while hes still working, then Id take it over later. My siblings think its too risky and Im second guessing myself, but I really want my parents to have a place of their own before its too late. Are we crazy to consider this, and does it make more sense to just wait and see if prices drop further?

8 Answers

What kind of proof of funds should I require from a cash buyer before accepting an offer?

I am selling my house as-is and just received an email from an investor claiming they want to buy the property for cash with no inspections. They haven't provided any documentation showing they actually have the liquid assets to cover the purchase price. I want to make sure I'm not wasting my time or taking my home off the market for someone who isn't serious or capable of closing the deal.

13 Answers