It might blow out a buyer or mess up a refinance.

Rate is adjustable every three years, but we plan to refinance before it adjusts.

You can likely refinance or otherwise pull out some equity but as others have indicated the cash flow is not very strong.Paying off your primary home is more emotional than wise in terms of investing.

I'm trying to find out what they are planning to do with it.I'd bet they plan on selling it "for the highest possible price within the shortest possible time".

I would quitclaim it to you and you could make the payments and refinance in one year.

I bet young people flock to him.

Bet some sucker is paying 150 so I doubt it'll come back to me but now I'm in top dollar of what I was willing to pay. uuuggghhh!

My estimates are accurate so it's not like they're looking at $15k to remodel a bathroom or anything ridiculous, but still......I get the feeling that it would look better if it were from a separate entity.I have a friend who would likely lend me his help/name since he would know that I wouldn't be actually contracting through his name, but just trying to help refine my system on these offers.

As AllCash has already mentioned (you have quite a memory there 8) ), the PMI drops off at 80 LTV (loan to value)---based upon the figures you provided, your current loan to value is 88...There is no benefit to a rate and term refinance at this point, if your intent is to eliminate PMI...There might have been a time when comparing a refi option with LPMI (lender paid PMI) might be feasible, but in the absense of more info (and prevailing market conditions), you might be better off leaving things alone.Regards,Scott Miller

My wife found this mortgage broker /real estate agent that is advising us to refinance our house to pull out 80 percent of our equity for a down payment on an investment property in Miami Beach.