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Updated about 5 years ago,
Seeking Cash Out Refinance
I have a duplex that I own free and clear and would like to do a cash out refinance. I purchased a distressed property earlier in the year and rehabbed the property. Prior to completing the rehab I got an appraisal done that said the property would be worth 55k upon completion as well as recent comps selling for around 65k plus. Rehab has been completed for the property, I have one of the units leased for $750 per month and the other unit is currently listed for $650 per month.The Property is located in , NY. The yearly taxes are $2,188 and the insurance is $912 a year. I am seeking 75% LTV for the cash out refinance. Thanks for your consideration.
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