Updated almost 19 years ago on . Most recent reply
Sell, refinance, or equity loan
Our rental property has $72, 000 loan at 6.75% and a home equity loan of $44, 000 at 10%. We want to pull out some equity to re-invest. We have a prepayment of about $3500 penelty if we refinance. This duplex has cash flow but is a pain. It's in a bad neighborhood. Would you take out more on the equity loan, sell, or take the hit and refinance?
Thanks,