Drawing equity to invest - 2004-01-14
Dear Dr. Don,
I purchased a house a year and a half ago. I want to cash out the equity in my current house in approximately a year and buy a new one with the equity. Would I have to have more of a credit history in order to get a second mortgage or third mortgage?
Danielle Downpayment

Dear Danielle,
In tapping the equity in your home, the rules and regulations deal with whether the interest expense is tax deductible, not in how you spend the money. This IRS Tax Topic explains more about the mortgage interest deduction.
Read the full story at Bankrate.com

Renters in Otay Mesa against condo conversion - 2004-01-14
Residents of an apartment complex in Otay Mesa asked the San Diego City Council yesterday to halt plans to transform their units to condominiums.

Filner, whose congressional district includes Otay Mesa, said residents pay about $1,000 a month. He said mortgage payments on the same apartment converted to a condominium would be about $1,500, which the residents cannot afford.
Read the full story at SignOn San Diego