Commercial loan re fi to pay off residential properties?

[Bill Higginbotham]

In need of advice.

I have built up quite a bit of equity in a commercial building loan. I am considering re financing to cash out and pay off 10 residential loans. Reason would be to not carry property insurance on the residentials only liability.

Problem is my commercial loan is at a great rate. With current rates higher, it is painful to give up this rate. But the huge savings in reducing property insurance costs will justify this move.

Any advice would be greatly appreciated!!!