Posted by David Alexander on April 23, 1999 at 16:41:58:
With a 50k balance refinancing should be a slam dunk, good or bad credit. If you want to have them deed your the property and pull cash out are you going to make the payments for them? I mean you would n’t want to put your folks in jeopardy of losing their house. do you have a plan on how to reinvest the money. For instance I’m borrowing about 30k against some of my equity, the 30k I’m going to pump into MH’s and create more subject to deals, to enhance my cash flow and create more equities. But, in the interim I have enough cash flow to cover the payments in the event something went wrong, and the money is secured.
You might repost your question again up top, give it a different title to get a more response.