The profit you make when you sell your house
You can calculate your capital gain by subtracting the adjusted cost basis from your home's selling price. The adjusted cost basis is your home's purchase price plus any major renovations you have made on your property, minus any losses like the cost of repairing flood damage. Based on your capital gain, the federal government figures out how much tax you owe.
See: Capital gains tax
Mortgage definitions and Real Estate Terms, Consolidating loans, refinancing mortgages and reverse mortgage process available to anyone. This consumer information site contains several tools and guides to aid in purchasing or refinancing a home or commercial property.
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Friday, April 14, 2006
