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years, a fact petitioner does not dispute. After the mortgage is
paid off, petitioner’s monthly expenses will decrease by $795.
Additionally, Ms. Cochran allowed petitioner’s “other expenses”
of $400 per month, which represented payments petitioner made to
Ms. Merriam’s law firm relating to the present litigation. There
is no indication that this expense will continue once the present
litigation has been concluded. Once these costs cease,
petitioner will have an additional $1,195 per month to pay any
increased expenses.
3. Value of Petitioner’s House
Petitioner argues that Ms. Cochran improperly valued his
house. Petitioner also argues that Ms. Cochran failed to take
into consideration the need for repairs. Petitioner’s arguments
are not persuasive.
On his Form 433-A, petitioner reported that the estimated
fair market value of his house was $175,000, with an 80-percent
quick-sale value of $140,000. Petitioner’s estimate was based on
“sales of nearby homes”. In one of the May 14, 2004, letters,
petitioner listed a variety of problems with the house.
Petitioner did not provide any supporting documentation regarding
the need for repairs but instead invited Ms. Cochran to view the
house in person. Other than a broad statement that he needed
$44,000 to pay necessary expenses, which also included the
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