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Reply to "Jen Hatmaker"
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[quote=Anonymous]Bought for $795K in October of 2015, the height of The Hatmaker Thing. They probably put 20% down and financed the rest as interest rates were very low then. So they financed around $636K. Sold for just under $1M in Oct of 2020, right after the announcement of the divorce. They probably after five years or so reduced their debt load by $150K on the property. Texas is a comm. property state, meaning if they sold the property for 1M and still owed $450K in it, then split it two ways (assuming there was no realtor fees), they each walked away with $275K, of which they had to pay capital gains on as this wasn't their primary residence. So yeah, they probably walked away with around $200K in cash. Not bad.[/quote]
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