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A home for sale in Tempe last year.
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FINALLY! The value of one of the homes I'm renting when up in value enough so that I could get a refinance loan. Because it's a rental (I refuse to sell it, and lose my shirt), different rules apply for giving loans on "speculative" property.
Due to my credit rating, I was able to get a fantastic rate! With the new loan, not only was I able to shave 5 years off the term, but because the rates are so much lower than before, my monthly payment is about two-thirds of my prior amount, even with the shorter term! Now I'll be able to pay it off even sooner.
The tenents for both of my rental locations each signed new leases. One tenent wanted a two year term. I jumped on that because now I have less than 24 payments to make on that property before it's paid off.
OBAMA didn't help me ONE BIT with any of this! It's my credit record, and hard work that made it possible, not anything that he did that directly helped me.
The pressure's finally been lifted because with what I make, I can handle two of our three mortage payments (not including any rental income). I'm one happy camper!
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Address: 1620 W. Fountainhead Parkway, Ste. 219
Tempe, AZ 85282
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