Quote:
Originally Posted by Patrick
That is only applicable for people with mroe equity built up than their sales price.
For people who just got into a house (last few years) this is a horrible move as the loss on the 1st property doesnt offset the "lower price" on their bigger house.
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You are absolutely correct. Sorry, I should have mentioned that. However, anyone that bought their home in 2004 or earlier, is going to have a lot of equity in it.