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College and University Discussion
Reply to "FA Question: Inherited house, now worth $1M, now what? "
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[quote=Anonymous][quote=Anonymous]so what do you do with $100K income a year since you have not had a mortgage for a long time - your words ..... a long time ago.... put away money for college? Why should others foot the bill for your child? You can easily take out a HELC against the house.[/quote] I am guessing that they use it to pay the property taxes and general maintenance of the house. Those do not go away when the mortgage does. [/quote]
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