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Husband lost his job four weeks ago. He has accepted a new job in a distant city, starting in three weeks. His new salary will
Husband lost his job four weeks ago. He has accepted a new job in a distant city, starting in three weeks. His new salary will be $75,000 (this is a 12% increase in his pay). Wife is still employed at a job that pays $29,000 a year. She wants to quit in two weeks to pack and move to be with her husband. You two would like to buy a new house in the new city but don't believe you can make two house payments at once. Wife expects to be able to find a comparable new job within a week of beginning her search. You have no children. You have $15,000 in savings, which you would like to add to your equity in the present house to use in making a down payment on another home. You have two cars, one of which is paid for (a five-year-old Toyota), and one on which you are making $400 monthly payments (a one-year-old Honda Accord, loan balance, $14,000). Your only other debt is a $1,000 Master Card balance (credit limit $5,000). You paid $220,000 for this house three years ago. You anticipated a 4-5% rise in the market value of the
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