Posted by Rafiq on March 29, 2002 at 09:42:39:
Thomas,
What area are you in? I believe you can answer your own question by making a simple decision. Is the interest rate really a concern if you are going to be investing seriously in RE? Do you refi to offset her income and move to the next deal or keep the rate and struggle? If you are finding good deals you will be able to pay off your home anyway.
What do you think?
Very frustrated can someone help - Posted by Thomas Baron
Posted by Thomas Baron on March 27, 2002 at 13:51:09:
Hello,
Hi this is my problem. I own 2-2 family homes for 7 years never late on payment. I owe $123,000 worth $170,000. We just got approved for a home equity loan then got denied because my wife just went on disabitlity. I don’t think she will ever be able to go back to work. I am self employed i would like to purchase 4-4 family units all on differant deeds need down payment money.
Was told i could refi but my rate is 5.875 on my mortgage and if i refi then my rate would go up to 8.5-10%. What do i do? I want these properties to offset the income of my wife not working and also would like to purchase more units.
My credit score 625
My wife score 640
last checked but there is a lot of inquires