
Own rental properties. Needing to generate cash to purge old credit debt. Good time to refinance?
I own my personal home, plus two rentals. Here in Colorado, thanks to the energy boom, rent is through the roof. Even with mortgages on both rentals, I still cash flow pretty well. My problem:
I have roughly $40,000 in credit debt, student loans, etc…
Would it be a good time to take a $40,000 draw on a refinance on one of the rentals? I haven’t kept a good eye on trends or interest rates. However, both rentals have long term leases, hence, continued income.
are you kidding-of course load up the rentals as the payments will off set the rents and you pay less in taxes what are you waiting for.
I am a mortgage banker in TN & KY
February 16 – Cyrus Updates his clients on Home Mortgage Trends, real estate prices
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