Couple Manages to Get Money for Retirement
Clients who bought their home in 2005 for $580,000 and saw the value drop to $350,000 have finally seen their neighbor this month sell for $600,000. Yes they now can refi their 0 down loan from 2005. They still have a 6.1% interest only loan, and have not paid extra;...
Do You Pay Tax on a Cash Out from a Refi?
You pay tax on the cash out on a refi. FALSE! I recently was reminded by a client that there is a common misconception out there that the cash out you get when you refinance is taxable. This is not true. The tax on any property’s gain (capital gain or the amount above...