All Forum Posts by: David Vaccaro

@William Hellendale Jeeze William, did they ask you to jump through the Flaming Hoop Of Death too? You should not have been forced to take SS or have to tap your IRA. Ridiculous.

Not specifically. As of January I am not working right now, but my wife is (at least for the time being), and we do have some student loan debt we're paying down, so I'm sure neither of those things help, but the rental property on it's own is doing okay. Plus saving about 300 every month would be even better.  

Thanks, for the info.  I guess just keep looking.  I was worried about getting dinged on my credit score.  Seems anything you do can affect your score in a negative way.

Hello,  new here at BP. 

I have a student rental near the University of RI.  It has at least 100K in equity.  I've had the property about 2 years and it's doing okay.  I recently tried to refi the property to pull out some cash and lower my interest rate only to find that my income to debt ratio is too high.  The company that owns the loan would not even let me just refi the property (no cash out) to save on the lower rate even though they already own the loan!  I would be saving over 300/month on the mortgage.

Any advise on a way around this road block?