Friday, October 26, 2018

Seniors, Utilize Caution When Using the Equity in your Home!

With all the hype about rising house prices and growing equity, seniors need to beware.   Before using your equity, speak with a tax professional. No one wants a tax surprise that will eat up most of their gain.  As a senior are you moving to a city were you can transfer your tax basis and take advantage of Proposition 60/90?  Caution, It is possible that you have spent 30 years paying on a mortgage.  Make sure you do you homework if you are thinking about downsizing or expanding.

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