reality is my clients that use me for this are bona fide ..

but the $7000 to pay off the vehicle will only save me about $600 in interest whereas investing that 7k into another home or renovations, like adding a new bathroom to my current 3bed 1bath home, would yield way more than the money saved.

Hi Shatrice, I always like to recommend Scoot Mortgage; I've worked with them on several client deals and have had great experiences. 

Proper quoted us more than double what we've been paying. 

This would be very temporary because we would either sell our 1st house once we move or rent it out then use all of our extra income to pay off the HELOC. 

I've seen these releases in Southern California to be 90 days (With no guarantee of that short of a time) of locked accounts where the owner had issues paying the mortgage, insurance, taxes and operating expenses for the properties.

Think of all the things that can go wrong and you want a way to remediate it in the JV agreement. we did this once and the partner never started the work after a year so we deemed the note in default and were going to take back the property but they ended up selling another property to pay us off.

Best advice with contractors is always warranty, insurance, pay with card(if theres a 3% fee so what) and no large deposits.

However, the tenants will be paying that PMI so it’s still better than not buying.

That's less that what my father is paying on policies in Florida for a $400k home not anywhere near the ocean.