All Forum Posts by: Daniel Vanhala
Daniel Vanhala has started 2 posts and replied 4 times.
Post: Where does equity go?
- Posts 4
- Votes 0
Quote from @Greg Scott:
Let's start over.
Let's say you have house worth $200K, with no mortgage, and did an 80% cash-out refi. Ignoring closing costs, you have converted $160K of equity into cash. The remaining $40K of equity is still in the house. If you sold the house, ignoring closing costs, you would get the remaining $40K as cash.
Thanks!
Post: Where does equity go?
- Posts 4
- Votes 0
Hi. When you cash out refinance a house you own outright, where does the existing equity go? For example, if you bought a house for $40,000 cash, now it's worth $200,000 cash. Do you get the 80% cash ($160,000 in this instance) plus your original $40,000 back?
Post: Is Plastiq still an option to pay title company
- Posts 4
- Votes 0
Quote from @Andrew Postell:
@Daniel Vanhala the correct answer here to is ask the title company specifically. I don't see it as a problem with them but if you are using a loan to purchase the property just make sure and clear it with them as well. Thanks!
Thanks! It's a cash only sale. I'd be about $15k short, so if I can wire one amount from my bank and the rest from plastiq, I can pull it off and do a cash out refinance immediately. I have a lender that doesn't require seasoning.
Post: Is Plastiq still an option to pay title company
- Posts 4
- Votes 0
Hi. I'm looking to see if anyone is currently or has recently used Plastiq to wire their funds to the title company before closing. Thanks!