All Forum Posts by: Kristi July

I have a property that has a home warranty. Can I use that warranty for the repairs/renovations of electrical, plumbing, and hvac repairs needed? I am trying to make needed renovations but also want to be conscious of renovation costs.

@Daniel Rutherford The second mortgage is the only balloon mortgage on the home. The second mortgage was taken out when we initially purchased the home so that we could afford the monthly payments. I will have to check the mortgage for a reset option. Thank you so much for your feedback.

We have a rental property that has two mortgages. The property was originally our first home that was purchased at the height of the market. We have been renting out the property for the last four years. However, we need to increase our cash flow and get rid of the second mortgage before the balloon payment. I have looked into consolidating both loans but one mortgage company said the house would have to appraise for at least 75% of the loan or something to that effect. I am not sure that the house will appraise for that amount. Any suggestions with how I can get rid of the second mortgage before it balloons?