All Forum Posts by: Terry Clifton

Thank you so much! I should have done the refi prior. Now i only qualify for a FHA refinance to get cash out because my debt to income ratio is too high. Now i will need a conventional loan to get the second property.

Yes i do have a refi offer. I agree lower the interest rates by consolidating. 

Hello!

Yes the partial claim is a lien from a modification. One bank offered a 50K debt consolidation loan at about 17%. I can then HELOC the other 30K and aggressively pay this the HELOC then do the refi.

Youre so helpful! Thanks!

Hello I’m Broke, 

I need your expertise:

- Own a 2 family in NYC with about $800K in equity at 3.5% interest rate $2600 monthly mortgage

- Owe about $85k in credit card debt st about 27% apr….all paid minimum but drowning $2500 monthly

- Owe $100k partial claim lien at 0 interest

- HELOC $30 k available at 5% owe 45k

Should i consolidate and pay debt or refinance the $375k + 100k + 45k + 85K 
at a new interest of 7% or just tackle the 85k separately by consolidating with new interest rates of about 17% and use the HELOC of $30k to pay the high interest credit cards?