Posted by terry on July 31, 2003 at 02:30:55:
hi
definately refinance!
i have been told that there are government loans that are very low in rates, go to the library and tell the librarian what you want and see what you can find.
rent to own is definately the best way to go.
go to resultsnow.com and get the free book peter and david are offering and then buy the other book they have; their info will give you some of the best advice around about rent to own.
have a great day!
terry
Need Advice on L/O. - Posted by Chris (No. CA)
Posted by Chris (No. CA) on July 30, 2003 at 19:14:25:
Iam getting married soon. I will be moving into my fiancee’s home. I also own a home and I have been playing with the idea of renting it out. the problem is that it has a pool and is kinda high maintance. also the average rent for that area is substantially less that the morgage payments. I was considering a L/O, because the tennet/buyer would take better care of the property, and I could charge a slightly higher monthly payment. I just want to know if a L/O would work with such a high mortgage (avg rent is approx 1,400.00 and my morgage is 2,200.00 per month). I think I could lower my payments by refinancing, but may still have a negative cash flow. any advice would be greatly appreciated.