[QUOTE=ems]
This buying a house lark is stressing me the hell out hence the almost migraine. Am having to come up with an extra $938 that I wasn’t expecting as my Company refrained from telling me that I would have to pay the income tax on the benefit of them paying some of the closing costs upfront.
[/QUOTE]
You need that now or next April? Hopefully it’s next April at tax time, and you’ll have paid enough mortgage interest and property taxes by then to negate the tax hit.
What’s the situation that your company (employer, I’m assuming) is paying closing costs? Just wondering, as my employer drops closing costs entirely for employees, and it wasn’t charged back to me as a benefit. It’s just a perk.
Oh, if this is a last-minute, gotta pay before you can close type thing, $938 is nothing. We had a roughly $7,000 surprise - think it was something daffy like a property tax payment that didn’t get added in, and the delay in having new mortgage docs done up would have jeopardized the whole deal, so we raped a 401(k) and sold off all of our leftover cinnamon and toilet paper to get the money faster.
) and in my hair. But it looks good. Tomorrow, I’ll do the second coat, and they’re going to try to get us in the water on Saturday.