Bogleheads.org

Usually I would say to pay it off but she’s 86. Just stop paying. She’s judgement proof in bankruptcy. I second this one. Get Power of Attorney for her and change all contact information from the credit card company(s) to yourself. And then just stop paying entirely. After 60 days, the credit cards (or debt collectors) will contact you to offer a settlement - often as low as 30% of the current balance. She also will never have a reason for her credit, so you could just let the balance just exist - unfortunately they will just call her over and over again for the rest of her life, so might be worth just paying them off. At this point, the credit card companies have probably made their money back through interest, so they'll be willing to wr...

Very important point that is kind of mentioned in the responses but not directly: you don't pay any taxes. The 1098-T is your daughter's tax form - her name & SSN are on there. If taxes are owed, then they are filed and owed by her (even if you choose to be the one who pays them). In no scenario can you just include the $300 on your tax return - there are special rules for interest & dividends of dependents being included on the parent's tax return, but that rules does not apply to scholarship income. I thought 1098-T are included on parents tax return if they are claiming their child/student as a dependent? I probably wasn't clear, but my statement applied in the OP's circumstance where there is taxable scholarship income. If ther...

Very important point that is kind of mentioned in the responses but not directly: you don't pay any taxes. The 1098-T is your daughter's tax form - her name & SSN are on there. If taxes are owed, then they are filed and owed by her (even if you choose to be the one who pays them). In no scenario can you just include the $300 on your tax return - there are special rules for interest & dividends of dependents being included on the parent's tax return, but that rules does not apply to scholarship income. If she is a dependent, the parent files the form. Scholarships that cover tuition, fees, books, and supplies are not taxable. I think this is further explained below, but this is partially correct - the 1098-T showing out-of-pocket ex...

There are two parts of the AOTC - the refundable and non-refundable. Unfortunately it sounds like your children are not eligible for the refundable portion of the credit, because of the following (this is directly from Publication 970 - page 21 if you want to look): Refundable Part of Credit Forty percent of the American opportunity credit is refundable for most taxpayers. However, if you were under age 24 at the end of 2022 and the conditions listed below apply to you, you can't claim any part of the American opportunity credit as a refundable credit on your tax return. Instead, your allowed credit (figured on Form 8863, Part II) will be used to reduce your tax as a nonrefundable credit only. You don't qualify for a refund if items 1 (a, b...

Very important point that is kind of mentioned in the responses but not directly: you don't pay any taxes. The 1098-T is your daughter's tax form - her name & SSN are on there. If taxes are owed, then they are filed and owed by her (even if you choose to be the one who pays them). In no scenario can you just include the $300 on your tax return - there are special rules for interest & dividends of dependents being included on the parent's tax return, but that rules does not apply to scholarship income.

https://dor.sc.gov/resources-site/lawan ... RR10-5.pdf

Questions 16 & 17 should help to answer your question.

Sure there are viable solutions, but how viable depends on various outcomes. What do you plan to do if you are unsuccessful getting approved by the lender? Will you buy the property anyway with a conventional mortgage? Will you require additional financial compensation from the seller if the assumption is unsuccessful? How much do you value (from a $ perspective) the mortgage assumption in this case? What is your reasonable assessment of the likelihood of assuming the mortgage probably factors into this calculation? VA underwriting is a little different to conventional underwriting - might be worth finding a good mortgage originator (with VA experience) and paying them to review your likelihood at getting approved. If the mortgage amount is...

lakpr wrote: ↑Tue Jan 10, 2023 11:53 am What is THP that you mentioned in your post, just below the gross household income?

It took me a while, but take home pay.

Speaking as a landlord in a major metro area - rents have absolutely gone up vs where they were 12 months ago. Every city is different, but I would expect Dallas rents are above where they were in Dec 2021, but probably below where they were in August of 2022. I would venture they've started to level out, but part of that may be winter (in some areas including mine there is less demand in winter). The problem is the report you read is short-term - how are things vs last month or last quarter. Your rent was likely set a year ago. Unfortunately you have two options - stay and accept the price (you can always negotiate, but if it is a large company then your complex/building manager likely has little wiggle room) or find another place. You can...

Anyone have an issue with posting dates? I purchased some gift cards at rakuten in the middle of the day on the 5th but they show as charge on 11/6 even though I clearly got the confirmation email on the 5th. Anyone have experience getting something like this shifted to the 5th for the extra bonus?

I separately realize that these (as well as a HomeDepot gift card purchase I had made) went through as 'POI funding transactions', which unfortunately don't get the online shopping bonus!

Something like a C2P is outside many mortgage company's wheelhouse, so you need a company that will work though that with you. In Chicago, I suggest Wintrust for something a bit uncommon like that.

I'm a part-time realtor and had some friends who had to get a C2P for a home that had significant damage just prior to closing. My go to loan officer at Wintrust was great to work with and super helpful to get them through the process. I'm happy to provide her contact info if you want to PM me.

Costco sells this (I believe I bought on sale for around $90-100) and it has been a lifesaver through two moves. I can't recommend it strongly enough!

Technically you don't get a choice of whether you get to claim your child as a dependent. IRS Publication 501 goes through the considerations of whether someone should be considered a dependent or not, and if the child meets the requirements to be a dependent that you need to claim the child as one whether you want to or not. Generally if you provide more than half of the child's support (which would be typical for a minor) the child would be considered a dependent. Perhaps nitpicking, but you have the right idea, but this is in fact incorrect. A parent is not required to claim a dependent on their taxes. What is the case is that if a parent is able to legally claim a child on their taxes (due to the details you mention), then the child ha...

Unfortunately as you own IL bonds via a mutual fund, you cannot know what specific obligations you own so therefore you cannot take them as subtractions (as only certain obligations are eligible for tax exemption in Illinois). At the bottom of the Vanguard Tax Exempt interest breakdown under term 2, it is stated 'Illinois does not exempt the portion of dividends from state or local obligations held indirectly through a mutual fund', which is unfortunately the case. Illinois exempts federal interest, but unfortunately does not exempt state interest. The US territories is currently not included in your Federal AGI (which goes on line 1 of your IL-1040), so you need to add them in as additions ($1,132 on Line 2 of IL-1040) and then as subtract...

You are willing to pay $3,000 PITI for a house when you can rent for $2,300. I don't. I am counting on folks like you to pay 650K for the houses and then I can buy it at 400K or less with an PITI of $1,800 or less. Not for the exact same house, but most people tend to buy a larger/more expensive house than they would rent (unless they live in the Bay Area), so if the impact on my bottom line is exactly the same, then a principal paydown is simply a savings account - if I chose to open a HELOC on my home, then it literally is a savings account that I can tap on with a small interest cost. Let me give some real world numbers for my situation (I've scaled to not be my own actual numbers, but the scale between the numbers is the same as my rea...

1) Why would you want to buy a house when it is significantly cheaper to rent? 2) If the house's price is around 400K or less, then, it may be worthwhile to buy. KlangFool I'm not OP, but cashflow isn't necessarily the best option to compare rent vs buy on, as a $3,000 PITI likely has something around $600-700 per month principal paydown, so it's likely a wash from a networth perspective, but there are advantages to both sides. As far as the OP's questions: - Seems reasonable to me if you can max all tax-advantaged accounts, maintain spending, and still save beyond this that you aren't stretching yourself too much with the house cost. $20k is a fair emergency fund for a homeowner. I would likely try and save into taxable more for the comin...

I mostly agree with Sandtrap (certainly on the professional standpoint) - I haven't done 100s of reglazes, but I've done 8 professional installed reglazes (which smells absolutely horrid - fortunately it clears out within a day after drying, but even the 'low odor' products are nothing of the sort). I definitely would not be able to sleep in a home the night of a professional tub reglaze, so keep that in mind. They haven't kept up horribly, but I would probably expect a 3-5 year lifespan on a tenant-occupied unit with a professionally reglazed tub - and this is speaking as someone with a few 4-year-old professional reglazed tubs in rentals. I've actually had great luck with https://refinishedbathsolutions.com/collections/all-products . I've...

Numbers are helpful. $200k of real estate is very different from $200M of real estate.

I personally use an adequately large umbrella policy and ensure that my rental real estate assets and activities are covered by the policy.

My wife has had YNAB since before we got married and these are the categories we have (categories and sub-categories for each): Everyday : Groceries/Household Personal (Gym/Drycleaning/Phone) Transportation Dining Out Donations Medical Discretionary : Clothing/Misc Shopping Entertainment/Hobbies Home Goods/Electronics Gifts One-Time Costs (this is where things like taxes/refunds, annual fees, etc go) Self Employment : (I have a few side hustles - and one of these categories for each - and this is where I budget them) Earnings Expenses Savings : Transfers to Savings Travel Whatever else we are saving for - last one was for our wedding & honeymoon trip, soon will be for a new car Home : Mortgage Maint/Utilities/Insurance/HOA Dues Home Upd...

Can you buy that 30 year down? I would probably pay to buy that down to 3.25% or something like that. That is assuming you have the $12k cash available for that. Gives you a happy medium of flexibility in monthly payment amount while getting a rate that personally I wouldn't pay off earlier (I would likely want to pay down early something above 3.5% while something sub-3.5% I would likely rather invest extra money). This is very much a personal decision based on individual circumstances, so good to figure out what your personal situation is. A big question for me is when do I intend to retire as I don't want a monthly mortgage for ten years when I retire. I personally did a 15 year (in Dec 2021) as that matched well to our planned years of ...

1. How do I decide which lender/"broker" (is broker the right term here?) that I will get my loan with? 2. What is the difference between a 15 and 30 yr mortgage. I feel like I can afford a 15 yr mortgage... there are a lot of days where I make $1,000 in a single day. So I don't see myself having that much difficulty. 3. I've kind of drawn a blank. I thought I had a couple more questions but I can't think of any... any other advice for me? I have never owned property before but I feel like I won't be any more ready than now. And I really want to own a house now. I don't know you, but I'll give the advise that I give to my friends when I assist them to buy a home (I'm a part-time realtor - mostly for my own purchases and for frien...

I'll speak as a superhost with a single unit with 300+ reviews (so probably 400 stays) over the past 6 years in Chicago. The unit is a few blocks from Wrigley Field and a few blocks from a popular nightlife area in Chicago - the two make up a fairly even split of 90% of my guests. The rest come for big Chicago events (the marathon, the air show, music festivals, etc). I'm also a fairly regular stayer at AirBnBs with some 40 stays over the past 6-8 years. My experience as a guest has been 90% highly positive and that fairly well aligns with my host reviews with 90% giving five star reviews. My few issues with stays I have had mostly were related to when I didn't fully review the listing before booking (photos, description, other reviews, etc...

This is the last time '1031 Exchange of Rental Property for REIT shares' was brought up and has pretty clear info about how this works, but as mentioned, you cannot 1031 real property into REIT shares - real property and REIT shares are not viewed by the IRS as like kind . There is a complex process of using Delaware Statutory Trusts and doing section 721 transfer of your DST share into REIT shares, but the main issue is you need to find an REIT who will accept your specific real property (inside a DST) in exchange for shares of their REIT. My general understanding is that if you don't have seven 0's after the first number in the value of that real estate you are looking to exchange, then the cost you pay for this process will very likely ...

My two cents (that I have heard a few times when I was pursing my M.S. and considering a PhD) is that one should: 1) Attend the university with the best college (that one can afford) for your bachelors (so in her case, the best engineering college) 2) Attend the university with the best specific program for your masters (so the best chemical engineering program) 3) Attend the university with the best advisor for your doctorate (so the best advisor in her particular research topic in chemical engineering) That is to say, if she is going to start her doctorate, then she should be thinking of the process as what advisor does she want to work with & where are the best research opportunities for her (ideally she should know what type of chem...

This is interesting. Where does this "section 8" rental data come from? stats, personal experience, etc? thanks j :D Personal experience - I was very close to taking a job as a general manager for a very large section 8 property management business a few years back. The company I was looking at manages around 4-5 thousand single family homes and a growing number of multi-family buildings - mostly 20-50 unit bldgs. The owners of the management business own about half of the SFH and they have outside investors for the rest, in some case through syndicates they run (I assume once they ran out of money to continue investing themselves) and in some cases a particular investor that owns a few hundred to a thousand units - owners that p...

... getting high school seniors excited to become trades people is not something that the US generally is good at - I wholeheartedly agree that this is the job of high school guidance counselors, and it is unfortunately that they aren't willing to do that and to support their students for the best opportunities. I don't think we can really know whose job it is. Nearly all high schools in the US provide some type of career planning, but it isn't always through the school counselors. It all depends on how a specific district is organized and chooses to delegate work. That's fair, but if I went to the guidance department (being clear I'm not speaking about a school social worker but about what in my day was called a guidance counselor and ove...

The only rental scenarios consistently getting 15%+ cash-on-cash return that I can think of is buying into Section 8 housing (as someone mentioned, there are always exceptions outside that). Depending on the city, you could buy something around 10-30 section 8 rental units (single family vs multi-family depends on the city). Now, I would expect that to be a horrible experience for you and while you will make money (getting rent that is guaranteed by the city or state is a great situation to be in - section 8 owners had no problems during the Covid pandemic with rent getting paid - even if the tenant share of rent wasn't paid - that is always icing on the cake anyway in section 8) - you may realize that you and spouse prefer working your day...

This is the exact same situation that most any trade is having today. You consistently hear about issues for construction trades getting the feed of future workers correct - these are all jobs that consistently pay six figures, but not always easy to find people who want to become plumbers, electricians, carpenters, etc. But this is precisely what apprenticeship is and probably the route you need to be taking/considering (as opposed to expecting future employees to come to auto repair on their own and hiring someone when they are fully trained and will consistently produce profit for you as a business owner). Certainly military is a great route to get those from as the military will happily train those people up for you - but getting high s...

It sounds like you and your wife both did receive the 3rd EIP payment - that is the $1,400 you would have received around March 2021. If you did receive that, then answer the question 'Yes' as you did in fact both receive the 3rd payment.

The payment you received was the 3rd economic impact payment and you received it in 2021 - you are not being asked if you received three payments in the calendar year 2021. The reason they have to ask is because not everyone received the payments when they should have received them - some people got EIP1 & EIP2 during calendar year 2021 or even 2022. The key part is did you receive the third EIP payment, which it sounds like you did.

Please explain your conclusion that itemization is not required, given the language in IRS Topic 419 (which is presumably supported by applicable code sections). Moreover, depending on the state involved, reductions for losses may not be permitted at all regardless of itemizing. I think you are misunderstanding Rollo's example. The theoretical gambler bet $10k once, they won $1k on that bet, and they immediately cashed out via Paypal and never bet again. That is absolutely a case of reporting $1k under gambling income on Sch 1, Line 8b and not reporting that 1099K anywhere on their tax return. This is 100% supported by the IRS and even if they audit you (which just means they send you a letter in the mail and you respond with evidence show...

As mentioned, the AOTC is up to $2,500 per eligible student. Only $1,000 is refundable (so paid whether or not you owe taxes), so that is why you see it split between $1,000 (the refundable part) and $1,500 (the non-refundable part). The only scenario you would be owed more is if you have more than one student eligible - and then be sure you are entering the information correctly as each eligible dependent can gain the $2,500 total credit.

There are two things going on here - just want to ensure that you are aware of both, charleshugh. The first is that you sold ~$50k and Vanguard did the federal tax withholding on 1/3/22. No one here can confirm what Vanguard will report - they should certainly be able to pay 2021 withholding taxes in January 2022, but only they can confirm what they actually did. You should be able to go online to your Vanguard account and download your 1099-R tax form which will confirm the amounts converted and the amounts withheld from tax. If you do not have this document online or cannot find it, then your only recourse is to call up to Vanguard customer service to ask them what the situation is. A second concern is that you have (assuming you are unde...

Since the title company for a home purchase is hired to protect the buyer, and that title company is essentially the seller, is it that much different than the example noted? Title policies are heavily regulated, so I wouldn't particularly be concerned about Lennar title brushing an issue under the rug or trying to deny a valid claim - no more so than being worried about Gieco denying a claim when I get t-boned by a Benjamin Moore delivery van - just because they are both owned by Berkshire Hathaway doesn't mean they will care about the other business' P&L. Really the bigger reason I would be less concerned is that Lennar Title is not a title underwriter, so Lennar Title is simply a service company that links up OP with a title insuran...

1099-K is not an income statement, so the correct way to do this is to ignore the 1099-K and don't report it - you didn't have income so you don't need to report it as such. The likelihood of an audit is very high (since the IRS got a 1099-K for $51k that isn't showing up on your Sch C or otherwise), so be sure to cross your t's and dot your i's and have all relevant information on your gambling history (with winnings and loses separately - you can't just offset and only report $500 net winnings - you have to report $50,000 of winnings and $49,500 of losses). They will want to see a record of all gambling to the individual wager to accept that you don't have any winnings to report on your taxes. You have to claim all gross winnings on Line ...

As someone with an aerospace engineering (master's) degree (although my diploma says aeronautical and astronautical engineering - my bachelors was in theoretical and applied mechanics, so about as non-applied as one can be in a college of engineering) from one of those midwest Big 10 schools , I never worked a day in an aerospace company and never had an issue finding a job or having to market/pivot my degree or experience. Now if I wanted to work as a computer programmer for microsoft or salesforce (and knew so in college), then likely I would have been better suited to have a computer science degree, but I have a friend who works as programmer for a FAANG with a history degree and I have a friend with a electrical engineering degree who w...

Strongly suggest using hrs.com for searching out hotels - I've had good luck with finding hotels for friends and family visiting when I lived in London a few years ago. I normally combine hrs with tripadvisor to find a well-priced option that fits my needs. There aren't many wrong locations when it comes to location, but of course the closer to London center the better - that would be areas like Westminster or Paddington - you'll likely want to avoid the 'City of London' area, which is the financial district; a bit like staying in Wall Street if you visit NYC. London is so well connected between the London Underground (metro) and bus networks, that you can easily stay a significant distance from the city center and not feel like it's an und...

Any suggestions for how to keep wine fresh for 3-4 days? I've haven't had much luck with Vacu-vin, etc. Anyone use nitrogen devices? And here I was going to suggest a vacu-vin, as DW and I have had good luck with it and can easily go three days from opening to finish consuming with little issue. You can get a coravin (what many of the nicer wineries in Napa/Sonoma that my DW and I have visited use for the bottles that they don't normally offer in their tasting rooms), but the cost can end up running $1-5 per bottle for the argon capsule cost (plus the up front cost of $100+ for the coravin device). I have trouble with that when I'm talking about a nice bottle that I paid sub-$30 for (I also always guesstimated it was twice that cost before...

$375 per sq ft home (somewhere MCOL or HCOL)

22.5% of gross to housing payment (although on a new 15 yr mortgage - 30 yr would have been 16.7% of gross)

12.3% of that payment goes to principal, so I am okay with ~10% of gross going to people (interest, tax, insurance) who aren't me for my housing.

Seems too good to be true, so probably is. There is no indication that points are worth 0.7c for cashback, so even if they were during the private beta, they could change that tomorrow before I cash in my points, so 2.1% cashback (which is not particularly great) could become 1.5% or less. I'm probably most worried about the redemption partners which 'X1 reserves the right to add or remove merchants to or from the list of Rewards Partners at any time in its sole discretion'. Simply put, with no track record, I'm unwilling to spend significantly to get the 3x points when X1 could change the rules of the game immediately after I spend $15k in an account year before I have a chance to spend those points (nothing says that my rewards partners h...

Very transparent and helpful! Thank you! Any idea where I can find the all-in tax property rates? I've tried in vain to find something with good estimates (it's either actual taxes paid - which means nothing to a new buyer - or it's only part of the story because other layers of taxes aren't included). As a Chicagoland real estate agent, this is amusing to read, but I wouldn't necessarily disagree with most of what has been said. I might question some of what people call North Shore, but given some people in Norridge try to claim they are North Shore - naming is fairly insignificant, unless being able to say you live in the North Shore is a priority for you (then pick any heart of North Shore village and you'll be good). Figure out why it ...

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A couple good threads discussing these.

I'll start by saying that I'm a part-time realtor who is licensed under a well known realty company. There are gray areas around offering rebates directly to clients. If I assist someone with purchasing or selling a home, they sign an agreement with my brokerage company (i.e. the local office of Keller Williams, Century 21, Coldwell Banker, etc) who then designates me as the agent to assist that individual in purchasing/selling a home. When the sale is complete, that local office receives the commission check from the seller and then cuts me a check for my share of the commission (often 50-95% of that original check from the seller which tends to be 2-3% of the purchase price, depending on the specific market and specific agent arrangement)...

JackoC wrote: ↑Thu Oct 21, 2021 11:25 am That's why we buy $500 ones generally, with BOA CCR at 5.25% CB, for pretty much all our in store spending at Costco except big items where Citi/Costco Visa gets you a free extended warranty rather than highest cash back. Or I might order a big item not eligible for the extended warranty at Costco.com directly with BOA CCR and pick it up.

Curious how that goes? Do you do online shopping category and purchase cash cards online from costco.com or is there another way. I currently settle for the 3.5% at Costco (one of my highest spends generally monthly) but getting that up to 5.25% would be amazing!

I'll just throw out discord , because that is one that many teens in the U.S. have installed on their computers/phones - not sure how prevalent that is outside the U.S. or for your tutee clients (perhaps varying depending on their age) It is very easy to share screen and you set up individual 'channels' that you could have one for each tutee so they just need to join the channel when their specific appointment time comes up, so no need for individual session invites. I will say I haven't used it a lot for video calls, as I use it almost exclusively for voice chat, but I do know it has video chat functionality. It also has the chat functionality, so you could just message your tutees to remind them about their session the following day and t...

What are my chances of getting a 1040X accepted? Thank you! Zero. Proof? https://www.irs.gov/faqs/irs-procedures/amended-returns-form-1040x/amended-returns-form-1040x The 'generally' there is special circumstances that have different deadlines than April 15th for the original return. There isn't leniency allowed - the IRS agent who would have to approve your refund manually doesn't have the ability to do so without a tax court ruling or IRS commissioner approval (I'm not even sure if the commissioner could do so and I'm not willing to review the regulations for this post). Otherwise, that employee is giving you money that you aren't due. You aren't asking for waiving of interest or something that is at the perusal of individual IRS employe...

My dad bought one and has enjoyed it and no problems for the past two months. His only issue has been with the Electrify America network (separate from the fact there is only one location in his 85k person town), and his intent is to 100% charge on them while that is free, but if he'd just pay to charge at home (and install a level two system in his garage) then that headache would be non-existent. Unfortunately he'd rather wander Walmart for 20 minutes plus a 30 min round trip drive - but I suppose he is retired and can only play so much golf, and the fact is he's always been a boglehead without knowing it.

I will add that I self-formed a 3-member LLC (family partnership) without any external support. It was very easy to do, and I would only bring in paid legal support if there were legal issues I was worried about from a multi-member LLC that could have financial or liability impacts in the future. For a single member LLC, I would just do it myself - particularly if the liability protection was not a significant feature I was looking to obtain. Just ensure you are good to go from a tax standpoint, whether from annual registration fees, franchise tax, etc - a brief chat with a CPA could help to ensure you are in the clear. In Illinois, I have an annual LLC filing to the secretary of state (with a fee) in additional to standard tax filings as a...

I know Bradford White uses letter designations for date of manufacture. Assuming HTP uses the same designation, then http://justwaterheaterstucson.com/wp-content/uploads/2014/09/bradford-white-water-heater-age.jpg My experience is 45 gal is plenty for four people, but depends on how you use your water. If you plan to have everyone shower in the morning and run the DW and laundry at the same time, then you'll have problems (in which case even a 60 gal won't manage). If you're a staggered type of family, then you should be fine, as a 45 gal water superstor ultra will produce 63 gal in the first hour (how you compare hot water heaters), and that is adequate for 3 showers or 2 showers & laundry. Assuming you won't plan for more than that in...

Unless it is somehow the waste/drain line out of the RO filter that is gravity fed (so at atmospheric pressure), then I would absolutely not try and seal it. Standard public water pressure is normally around 50 psi and trying to do a long-term fix is risky at best. I highly suggest calling www.purewaterproducts.com, as they'll work on anyone else's equipment and they'll help you over the phone (or via email if photos are necessary) - they'll talk you through what is needed and help you to do the change out. RO systems are about as user & DIY friendly as things come, so you shouldn't need to call a plumber or anything like that. I've dealt with installing and working on five RO systems, so you're welcome to post photos here of what you'r...

Keeping in mind the above concerns about maintenance, upkeep, throwing money at the problem, etc, if you still want to do this. Seems like a life estate for the brother (and possibly wife) could be possible. Depends if you can be forthcoming with your brother about what you are doing (as it seems unwise to pay market price as that just gives him additional cash to spend poorly, so you would ideally want to buy it for the outstanding mortgage amount). Even if the spouse has a marital interest in the home, they could sell you the home which they would have a life estate that legally permits them to be a tenant for the remainder of their life, but they don't own the property so they cannot remortgage it - you can also set up the life estate to...