Hey guys,
heres a little bit about my situation I own a home, my remaining mortgage is about 105,000. house value is about 160,000. I bought the house about 2 years ago( sept. 13) I did an MCC which i paid $1000 upfront and will save 40% of my house taxes per year with this cert. the catch is I have to live in the same house for 9 years or I can be charged a recapture fee of 6.25% of my gain. i love the house and dont want to seel it but i just became a teacher and I found an interesting opportunity for teachings.
heres the catch. I cant have a mortgage for atleast a year so my family(gf and 2 yo son) would have to live in an apartment for a year and hope there is a house available, The house has to be withing the school district I work at which is not very good, But i would get a DISCOUNT OF 50% OF THE HOUSE. the requirements are that I have to live in the house for 3 years then i can sell it and all the gains on the house i can keep.
is the discount of that much worth the jumping around and headache ???????
