After her husband left her, she was evicted from her apartment, which she said made it impossible for her to obtain a lease or a mortgage.
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As owner and landlord, you personally deduct expenses necessary to deliver on the lease agreement, including mortgage interest and depreciation.
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As a tenant it is very difficult to find out much about the landlord before taking out a lease, certainly not their mortgage position.
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The synthetic lease allowed Inktomi to keep the mortgage debt off its balance sheet, even though for tax purposes it owned the building.
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That way, he can lease it back to the company for an amount that will leave him with an income after covering the mortgage.
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