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Updated over 7 years ago on . Most recent reply

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Rosalia Aguilar
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having problems understandig the refinance part

Rosalia Aguilar
Posted

So i have a question , I cant think of refinancing my property because if i do , I will have money in my hands but the debt will just increase and increase,  and therefore I will never get out of debt. I wont even be able to make money if I sell the  property and make money out of it if I refinance. I know a lot of people that lost their houses because they refinanced 2 to 3 times etc.

please explain how do I refiance a house and dont get into more debt?

currently i own 3 houses 2  are rentals

all 3 houses i worked hard and saved average of 50 to 60 thousand to cover 20% down and closing costs.

I want to buy more properties but im going too slow because i dont want to refinance  im scared.

thanks

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