Sunday, October 1, 2017

If you paid off your house, can you use that money to buy a business?

Long story short, my dad passed away 4 years ago but before he did he paid off our $315,853 house ( Zillow esimate value ). Can we use that money by using reverse mortgage or just by selling it to to buy a $500,000 business by putting down $250,000 and financing the rest from the bank? ( My dad was a dry cleaners owner, but sold it before he died. )

Read more: If you paid off your house, can you use that money to buy a business?