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Updated about 8 years ago on . Most recent reply
Re-finance and keep, or sale?
I currently own a property in Wetumpka, AL. Should I re-finance and keep, or sale, to get a better property.
Original mortgage $142k @ 4.75%
Current value $145k-$155k
------CURRENT------
Current mortgage $129k : $930 / month
Current rental $1.2k / month - 10% management fee = $1080 / month ($150 cash flow)
------RE-FINIANCE------
Re-finance mortgage $130k : $790 / month @ 3.875%
Current rental $1.2k / month - 10% management fee = $1080 / month ($290 cash flow)