Anyone wanna buy a tikified condo in East Bay? - Beyond Tiki

C christiki295 Member LA-2547 mls east Hawaii &5500 Easter Is Joined: Apr 09, 2003 Posts: 3837	C christiki295 Posted posted on Wed, Jul 16, 2003 8:30 PM DanceGirl299: Have you considered refinancing which could substantially reduce your monthly rate and possibly enable you take receive a cash advance. Also, have you considered the possibility of a roommate or of renting out the entire condo and renting. (It seems a shame to loose whatever equity you have, the cash you paid for closing costs and return to paying rent, instead of gaining equity by a mortgage payment.) Lastly, and I'm no tax expert, but is there an issue that you would have to pay tax on the proceeds [which will be reduced by the 8%(??) cut the brokers receive] if you do not purchase another realty within 12 months? Good luck.

DanceGirl299:

Have you considered refinancing which could substantially reduce your monthly rate and possibly enable you take receive a cash advance.

Also, have you considered the possibility of a roommate or of renting out the entire condo and renting. (It seems a shame to loose whatever equity you have, the cash you paid for closing costs and return to paying rent, instead of gaining equity by a mortgage payment.)

Lastly, and I'm no tax expert, but is there an issue that you would have to pay tax on the proceeds [which will be reduced by the 8%(??) cut the brokers receive] if you do not purchase another realty within 12 months?

Good luck.

Post #43285 by christiki295 on Wed, Jul 16, 2003 8:30 PM