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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Aug 20, 1993
Page
7
Readers inquire about refinancing to take cash to pay debts and how taxes apply. The answer confirms borrowing isn’t taxable, allows deducting mortgage interest up to the acquisition balance and up to 100000 of new equity debt, and notes strategic use of IRC 1034 for job-related residence moves.
A real estate column covers listing durations, suggesting 60 to 90 day plans and the author defending 90 day listings while noting 60 day listings can work. It discusses reverse mortgages limited availability, and explains tax treatment when converting a primary residence to rental status with Schedule E deductions and depreciation, citing Robert Bruss.
Appraisers say curb appeal and tidiness influence home value. Homeowners should spruce up interiors, clean yards, repair roofs, replace worn carpets, remove debris, and keep landscaping comparable to nearby houses. Provide sales data and recent comps within three to six months for accurate valuations.
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