Heavy leverage in Real Estate today - international

My question is: US-specific
QUESTION: I purchased a townhouse condo almost seven years ago for
142,000.00. It is now valued at 300,000.00. I refinanced a year ago and owe
215,000.00. do I have enough equity to purchase a 400,000.00 home without
any extra cash?
david ingram replies:
Too Tight for my taste.  If you are selling the townhouse to buy the
$400,000 house it is doable but if the idea is to keep both of them, it is
too tight in this market with rising interest rates and increased vacancies.
David Ingram's US/Canada Services
US / Canada / Mexico tax, Immigration and working Visa Specialists
US / Canada Real Estate Specialists
Home office at:
4466 Prospect Road
North Vancouver,  BC, CANADA, V7N 3L7
Cell (604) 657-8451 -
(604) 980-0321 Fax (604) 980-0325
Calls welcomed from 10 AM to 10 PM 7 days a week (please do not fax or phone
outside of those hours as this is a home office)
email to taxman at centa.com <mailto:taxman at centa.com>
www.centa.com <http://www.centa.com/>  www.david-ingram.com
Disclaimer:  This question has been answered without detailed information or
consultation and is to be regarded only as general comment.   Nothing in
this message is or should be construed as advice in any particular
circumstances. No contract exists between the reader and the author and any
and all non-contractual duties are expressly denied. All readers should
obtain formal advice from a competent and appropriately qualified legal
practitioner or tax specialist for expert help, assistance, preparation, or
consultation  in connection with personal or business affairs such as at
www.centa.com <http://www.centa.com> . If you forward this message, this
disclaimer must be included."
Be ALERT,  the world needs more "lerts"


Trackback URL for this entry: http://www.centa.com/trackback.php/UsCaWeekofMon20060220002422.html

No trackback comments for this entry.