Updated about 8 years ago on . Most recent reply
Need advice for my mom
Hey, I am 18 and just joined BP. I have a single parent who owns our house and is currently only paying the principal and some interest on her line of credit. She recently just increased the amount on her line of credit so that if she sees a good house to downsize, we can move. She wants to move to a smaller home so the taxes are lower and to pay off her line of credit. She could easily sell our house for 300k-350k, and was looking to buy a house for 170k-250k. She has a lot of equity in the home that is payed of, so what would be a good way to used that to downsize and invest so they we would be better off financially in the future?