Agent

Is trading homes hard to do?

Mother, son want to avoid taxes, closing costs

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DEAR BENNY: A few years ago, my son bought a small, but cute, home. My husband and I were empty-nesters with a large home. Recently, my husband passed away, my son got married and his wife is expecting. I would like to trade homes with my son, because he needs more space and I can't take care of a huge home by myself. Is there any way of doing this without too much money involved? I do not have any mortgage on my home, but my son does. If he could just continue to pay his current mortgage and his new taxes, etc., I would pay the bills on the smaller home. Is this possible to do without the nightmare of taxes, closing fees, etc? --Andrea DEAR ANDREA: That's a very interesting suggestion. There are a number of ways to accomplish your objectives. First, you and your son (and his wife) could just move in to each other's house. You each could pay a nominal rent to each other, or you could just stay without paying any rent -- although your son would have to continue paying the m...