All Forum Posts by: Gustavo Gonzalez

Thanks Andy! Yea makes sense - the contact may be worth it alone. They won't refinance for 29 years - they can only do 30 years.

Here is the scenario. My lender for a triplex that I acquired February 2013 contacted me and asked if I would be willing to refinance my current mortgage to the exact same terms and they will cover all the costs of the refinance and will also pay one of my monthly payments. Per the mortgage lender whose CFO contacted me, they admit to a mistake where my original loan approval should have been for 70% not 75% the way they packaged my loan. He stated that Fannie Mae is asking them to repackage my loan - I have never heard of such a thing. So my concern is that as nice as they are trying to be, this really isn't to my favor. What comes to my mind is that it will reset my loan term again to 30 years where I have already paid 1 year of principal and interest. All thoughts appreciated!

Simon and Shawn thanks for the insight. Given that I was able to negotiate the out of pocket price to $1500, only $500 more than my deductible, I went with the out of pocket expense. I figured save my credit for possible higher cost transactions in the future.

Hi all. In need of some guidance. One of my rental properties recently had the AC stolen and I'm torn on whether I should file a claim or pay out of pocket? I have a handy man who can replace it for approximately $1500-1700 and my deductible is $1000. If I choose the claim route I a concerned about future home insurance rates. Has anyone had any similar experiences? Thanks!