All Forum Posts by: Helen Vann

Thank you A Schwartz.

Oh Greg, it’s in Denver, NC. Denver is about 25 minutes north of Charlotte. The big draw is small town living on Lake Norman.

Thank you for the advice, Greg & Sherree. I will talk with my mortgage broker and see what can be done. 

I want to add I owe $110,000 on the house now

I would love to hear your thoughts on how to weigh my options. I bought a 3br 2ba home in NC (I lived there at the time) in 2014. I bought it for 163,000 it now would likely sell for 250,000. I had the same wonderful tenant the entire time. She just moved out. My interest rate is 4.5 payment $884.00 a month. Rent was 1250 but was very low for the area and home. If I keep it I will rent at 1500 per month. My credit was hit due to not realizing I had and electric bill to pay in my move. My credit score is 650. I'm doubtful that I can secure lending for another rental at this time due to my credit score. Now the home is 7 hours from where I'm currently living. Should I keep it and rent again while I'm improving my score? Then remortgage and use equity to pay a down payment on additional rentals where I'm currently living? Sell now, sell high keep my cash until I can buy where I'm currently living? Or some other option I haven't thought of??