I don't know if they still existing, but I also have gotten 80/20 loans where you borrow both the down and the remaining balance, however, that is a slippery slope as you have to make sure (if you are keeping it as a rental) that you have sufficient cash flow after debt service.Clear as mud, right?

I think you have to find a good balance between being nice and being firm.

I have been struggling with maintaining a full time job and balancing my true dream of being a full time mom.

You'll need to set up the following new accounts:Asset Account - Escrow at new company (I set my escrow accounts up as bank accounts)Liability - New Mortgage Payable.Let's assume the following balances before the Refi:Escrow account $500Mortgage Payable - $100,000.Long Term Asset - Property - $110,000Let's assume the following balances after the Refi:New Mortgage balance - $350New Mortgage Payable - $130,000Cash out $28,000Closing Costs and Escrow - $2000As you go through the Settlement Statement, you'll pull all of these items out and put them in the following journal entry:Mortgage Payable -      debit    $100,000New Escrow Account - debit   $        350.00 (You'll find this under the settlement statement, usually labeled as so many months of prepayment of insurance and property taxes)New mortgage Payable - credit -                       $130,000Cash/Checking Account   debit   $28,000Loan Amortization Costs -       debit           750.00           This should be only a fee paid as a percentage of the loan.  

Our expenses include $1,150 in loan payments between student loans ($680 monthly), a personal loan with a 6k balance and a couple of credit cards with balances totaling about 8k.

So after all your closing costs and down payment, what is your principal balance left to pay?

I understand it's a balance, so I'm glad you guys found a solution that doesn't prevent non-paying members from joining the local discussion (saying this as a paying Pro member.)

Or would you rather drive that old Ford another couple years, get your investment business off the ground, and smile when your balance sheet is stronger than that of those around you telling you to "go buy a new one".

This of course is dependent on the mortgage balance being at or below the new market value, and that you can improve the NOI with minimal capital expenditure.

From my understanding, the securitization of these rental cash flows are based on what balance sheets have shown, not what can be projected from leases.