Asked by Midwestflynbabe, Quincy, IL • Thu May 26, 2011
My current home has been an asset of a trust. I own it outright. I already know the house appraises close to $100,000 more than we paid. I need to downsize, but I also want to make the right decision as far as taxes and reinvesting the profit from the house. I can afford a mortgage payment and I would like to be able to access the profit for any repairs or remodeling I might need to do on a newer home.
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