3
votes
1answer
298 views

When to liquidate mutual funds for a home downpayment

I have about $18k in mutual fund assets that I am planning to use for a down payment on a home within the next 1-2 years. Combined cost basis for the assets in question is +$2,800. Right now the asset ...
13
votes
2answers
478 views

Seller refuses to accept offer on home until after inspection

I'm currently trying to buy a home (that happens to be a foreclosure), and the bank who owns it is allowing us an inspection period, however they are unwilling to accept our offer until after the ...
7
votes
3answers
1k views

How to get a down payment for your next home? Use current home as the down payment on the new one?

I bought my first home last year; it's my primary (and only) residence. I intend to pay off the mortgage in 5 or 10 years, then sell the house and buy a bigger one. The new one would cost 2 to 3 times ...
3
votes
2answers
359 views

How to calculate interest tax deduction for a mortgage?

I am trying to ascertain the effect of the mortgage tax deduction on my bottom line. The various calculators I found are confusing to me. Specifically, I want to know how much less I'll pay in ...
16
votes
2answers
427 views

What are the primary risks of buying a house in a short sale?

What are the primary risks of buying a short sale home? I've been looking at it as a way to buy a home cheaply, and I understand that repairs may be in order. However I've been warned (in general ...
4
votes
2answers
159 views

Buying a short-sale property with repairs needed

I'm looking at purchasing a property that might require somewhat extensive repairs to one of the buildings on the lot (charred timbers in the ceiling of the detached garage/barn from an old fire). ...
17
votes
5answers
390 views

Is a Home Warranty worth the money?

I'm a first-time homebuyer, and one of the stipulations of the down payment assistance program I have is that I have to buy a home warranty (which covers appliances, plumbing, roof, etc in case of ...