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Updated over 6 years ago on . Most recent reply

User Stats

38
Posts
6
Votes
Johnnie Bembry
  • Las Vegas, NV
6
Votes |
38
Posts

Should I refinance my house?

Johnnie Bembry
  • Las Vegas, NV
Posted

Should I refinance my home to payoff $45K in “bad debt”? I want to pay off this debt & start investing in real estate. Credit card/car rates are between 5.9%-20%. I have about $70k in equity in my home and a good credit score. If it matters, I also plan to hold on to my current home (Las Vegas) for the long term even if I’m required to move for work (military). Any advice is appreciated!

Most Popular Reply

User Stats

864
Posts
555
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Jake S.
  • Rental Property Investor
  • Minnesota
555
Votes |
864
Posts
Jake S.
  • Rental Property Investor
  • Minnesota
Replied

@Johnnie Bembry Okay so youd be able to withdraw about $20k or so if you have to maintain 20% equity.

I'm not sure it's worth it quite yet then

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