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My dad converted his residence to a rental house, and the house is subject to mortgages. What is the impact on his application?

April 26, 2017application converted Dad House impact mortgages rental Residence Subject

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My dad converted his residence to a rental house, and the house is subject to mortgages. What is the impact on his application?

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Residence is an exemption asset for the Net Worth analysis, but a rental house is an available asset for the Net Worth analysis. However, the amount of mortgages will be deducted from the value of the house for the Net Worth analysis.