I came across an interesting article through CNN. In the article, a couple wanted to know if they should refinance their rental home.
Refinancing a rental home is a common question. Any time that the rent doesn't cover the mortgage, it's a good idea to ask yourself if refinancing is a good idea. According to the article, several considerations come into play. How much you can afford to invest in the home, how much the home is worth, and how long you plan to hold the home all come into play. Also, your own financial situation is worth considering. If you have a large amount of debt, investing any spare money in the equity of the home may not be the best option for the situation.
Whether your rental property needs to be refinanced or not, Provident wants to be your management team. We can help you to maximize your returns. We will work with you to insure your property is rented for it's maximum value. Contact us for more information.
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