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Updated about 6 years ago on . Most recent reply

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Julia Beresfoes
3
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16
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Equity out of investment

Julia Beresfoes
Posted

I have a rental home that I would like to pull about $90k equity out of however the banks tell me that since it is an investment home and a duplex that getting a refinance will result in higher interest rates, I must loan 70% of value ànd they can only give me about $7-8k out. Home is valued at $250k mortgage is $154k. I am stumped. I do not want to sell and now I don't know what to do. Any suggestions? 

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