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7) All of that was assuming that you get nothing for the house. Always dangerous to spend money you don't have. And some of that will have to go to taxes anyway. If you have anything left after taxes, I would max out my RIRA, and throw MOST of the rest straight at the debt. I'd hold back enough to properly fund the Emergency Fund, and a small amount to celebrate.

If the home qualifies as a primary residence for the last 2 of 5 years, there will be no taxes due. The first $250K is tax free.

Debra
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