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Updated over 2 years ago,
Divorce, selling equity
My last rental was sold just before covid (doh). I'm currently going through a divorce. House is worth around 500k. 250k equity. Looking to buy my wife out. Just started a business so I cannot get a second or refi right now. Looking for a 5 year loan of roughly 100k. Rent is as high as my current 15 year 2.25% loan I am in. Trying to keep it for the kids. Plan is to refi or pay cash for the loan in 5 years. Enough cash on hand to make the payment for 2 years w/o income just not enough to buy her out.