It is not uncommon - main reason we see right now is over inflated original ARVs and now borrowers cannot sell and pay off the lender. 

So either you pay for the repair out of the idle cash in your account, file an insurance claim and use those funds, or rollover/transfer funds from another retirement account to cover the cost. 

We typically pay somewhere in the range of $3500 for a new, basic furnance, including install, if there are no other modifications to the system required.  

It's likely they’re using this as an excuse to avoid paying rent, and there’s a good chance they didn’t pay the previous manager either.

Risks: rates go down and you have to pay a prepay of 2 or 3 %; you have to sell and pay the prepay; rents decline & you can't make the payment like any other type of loan; cost upfront a little more than conventional; need to find experienced broker licensed in the state where subject property sits; servicers are bulldogs. 

@Parmesh P. there is no such TDA paying 7% or even 6% long term,5 years or longer.

@Chinku Chinku how is paying the loan balance down going to help you reach your goals?

Ask your employer if you can have your pay split up into three deposits, one to investments savings, one to your checking account for personal use on a daily basis, and one to an emergency account you can tap into so you don't have to tap into your investment savings.

No need to pay big bucks for this. 

If the new owner pays on the loan its not "equity skimming" from what I understand of it.