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Updated 3 months ago on . Most recent reply

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2
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1
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Francine Geike
  • Madison Wisconsin
1
Votes |
2
Posts

Divorced low income assume loan of home selling investment property

Francine Geike
  • Madison Wisconsin
Posted

Hi, new here..recently divorced. Awarded the investment property(cabin) with no mortgage and home with $155000 mortgage. Would like to 1031 the cabin and assume loan on house but my monthly income is child support $1137 for 1.5 yrs and a lame income of $800/month. What would you do? I am going to get hit with capital gains and state taxes(Idaho 5.8%)..closing on cabin on the 18th of Nov.

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