trade: How to Trade-Up (or Down) Using a Reverse Mortgage
- 05/28/19 10:37 AM
Home prices in many markets have gone up recently. This is leaving many retirees with sticker shock when it comes to trading up, or even trading down. Consider Anna and Olaf who are in the process of selling their $400,000 home. They’ll be left with net proceeds of approx. $364,000 after paying 9% in sales expenses (transfer taxes, real estate commissions, etc.). The new house they want to purchase costs $500,000, leaving them $136,000 short. Option 1: sell or liquidate $136,000 worth of investments or retirement assets. They will need to “gross-up” the withdrawal to account for taxes if the funds … (1 comments)
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