Here is what I am thinking of doing.
1. In order to pay for my deal, I thinking of refinancing my house.
2. I'll get about $20,000 in the cash-out.
3. My mortgage is $1255 plus $140 in a foundation loan.
4. I'll take $5500 from the $20000 and pay off my wife's care. Monthly payment of $260.
5. Leaves $14500.
6. I have a foundation problem in my house. It will cost $14,500 to fix.
7. Currently, I have a loan of $6500 (unfinished foundation loan)($140 a month).
Should I refi and cash out?
Should I take it out and pay for the 2 debts and the new foundation? Which the house I live in would be more stable.
But I would not have enough money to invest. But I would $400 a month. Which $200 would go to the new refi.
- Should I pay for both debts and fix foundation?
- Should I pay off of the debts and use the rest to fund an investment deal?
Please assist!
