Home equity loan doesn't affect sale profits However, let's say you have $600,000 equity in your home. A few months prior to selling, you cash out $100,000 in equity by refinancing. Now you are back to having $500,000 in equity. Would this exercise be a possible solution to avoid paying the capital gains taxes on the sale of your home? Thank you in advance. Best regards.
-- John
Source: Bankrate.com |