It’s the line of work I am in and to put it simply the best answer I can give is not really but there are ways around it but it’s a lot of jumping through hoops and don’t suggest it and don’t see that being the case here either. That’s not to say the money wouldn’t be used for things dealing with the home once names are signed on the dotted lines but that’s speculating that she won’t use the money for what the GFM said she would.Lionking wrote: ↑Tue Feb 04, 2020 5:57 am
I’m not educated on the home buying process at all so forgive me if I sound dumb. If I’m remembering correctly, she got about 100k from the GFM, do you think she’s using that as down payment for her new home? If she sells her current home, then can’t she use that money to buy a new home? Wouldn’t she have around 500k on hand from that sale assuming she’s selling her home for 500k (just an example, I have no idea how much it’s going for). Or are you saying she’s going to add that 100 to the 500 and put down 600k on a million dollar home, in the example that she buys a more expensive home than the one she is selling? Sorry, I don’t even know if people put that much down on a home or if it’s even smart to do that. I’m just curious as to how this extra 100k is going to help her when she’s going to get money from the sale of her current home.
I don’t recall how long she’s been in that house but I highly doubt she has $500k equity in it to be able to put toward another house. Not to mention where she lives the housing market and cost of living is standard to lower than most areas.