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Recently inherited 2 townhouses. They were purchased at the height of the real estate market & are

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July 17 2012 - Manassas
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Profile picture for wetdawgs
Sincere condolences for your loss.  

Some of the thoughts and numbers that go into making these decisions:

 Are you receiving rental income from the townhouses?
 Does the rental income cover the costs of maintenance, taxes, insurance AND the costs of a home equity loan?
 If you have a lot of debts, would a lender qualify you for a home equity loan?
 Are you able and willing to be a landlord?

These aren't things you have to tell a public forum, but as you work through them the answer may become clear.   



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July 17 2012
It sounds like you need to sit down with a financial advisor.
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July 17 2012
Profile picture for user112260
I inherited 2 townhouses in Manassas. (Clemson Court & Hiram Court). Both are free & clear.  We have extensive debt so I'm considering selling one & keeping one.  Would it be better to sell one or take out a home equity loan on it?  They're probably worth half of the original purchase price due to the declining real estate values. 
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July 17 2012
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It appears your question was truncated.  Click on "post reply" to provide the rest. 
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July 17 2012
 
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Recently inherited 2 townhouses. They were purchased at the height of the real estate market & are
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July 17 2012 | 4 answers
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