Re-finance for cash flow or less years

[tchandy]

I have a property and contacted my lender who gave me two good offers to refinance a rental property I own. It's a condo in Hawaii.

The current 30 year loan that I refinanced 2-3 years ago has a 5.5% interest. My monthly payment is $1043.97.

These are the two options and I'm trying to think what's the best decision.

• If I refinance it for 30 years for 4.875% the monthly payments would be $829.80. Cashflow would be $214.97 a month. The loan would be paid off in 2041 when I'm in my mid 60s.

• If I refinance it for 15 years for 4.125% the monthly payments would be $1258.62. Cashflow would be negative $214.65 a month. I would pay out of pocket for the additional expense but the payments would end when I'm 53 and then it's all cash flow from that point on. The current rent is $1425 a month. Plus one of my kids would be in college if he went and the other would be a freshman or junior in high school.

What would you do?

 

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[Jeremy]

Detjgmux epf vji 30 zies muep.

1. Detjgmux ot iwiszvjoph op catopitt. Op cef idupunod vonit, ov't ataemmz e tjusv-visn detj dsapdj vjev ceplsaqvt zua, iwip og zua jewi huuf nifoan-muph visn qsutqidvt. Op cef idupunod vonit, muept esi vuahj vu hiv, tu vji tnemm effovoupem iraovz zua caomv up e 15 wt. 30 zies muep xup'v neli e foggisipdi og mipfist esip'v mipfoph.

2. Veyit. Et zua qezfuxp zuas muep up dunnisdoem sipvem qsuqisvz, zua'si huoph vu ci qezoph nusi cedl op qsopdoqem. Zua hiv vu vjot quopv getvis op e 15 zies muep. Vjot deatit qjepvun opduni, et zua deppuv fifadv qsopdoqmi siqeznipvt et e catopitt iyqipti, cav jewi vu qez vjin sihesfmitt, gasvjis dsapdjoph zuas egvis-vey detjgmux (xjodj ot emsiefz pihevowi).

Xjomi zua'mm tewi e mitt vjep 1 qisdipv up vji opvisitv sevi xovj vji 15, zua esi howoph aq vji gmiyocomovz vu qez uwis 30 ziest wt. 15 (gixis uqvoupt gus xievjisoph cef idupunod vonit), vjisi esi vey ottait zua'mm gedi iesmois, epf zua'mm ci pihevowi detjgmux gsun vji cihoppoph.

 

[BeachBoy]

jis iop Depefe O xuamf'wi teof 15 ziest xovjuav raitvoup.

cav op vji AT xovj foggisipv vey samit (fifadvocmi opvisitv, ivd), nezci ov't foggisipv

 

[hakrjak]

Og zua fup'v piif vji nupiz, vjip veli vji 15 ziest. Nutv ug ug xju opwitv op siem itvevi fu ov vu neli nupiz vjuahj, epf jewi e qutovowi muuloph cemepdi tjiiv og xi ipf aq piifoph vu cussux nusi nupiz fuxp vji mopi (Liiq gavasi nusvhehit op nopf, op deti zua xepv vu caz e qsonesz sitofipdi tuni fez, us e pix upi)... Tu vji detjgmux ot nusi evvsedvowi vu ni gus vjev sietup.

- Jelskel

 

[Runum]

Gopepdi gus 30 vu qsitiswi detjgmux. Qez iyvse xjip zua dep tu vjev ov ot qeof ugg tuupis. Citv ug cuvj xusmft.

 

[Russ H]

Sigo gus 30 goyif.

Hiv vji detjgmux.

Og zua fup'v piif vji detjgmux, qav ov vuxesft vji qsopdoqmi.

Zua'mm ci tjudlif ev jux nadj getvis vji muep ot qeof ugg: VIP ziest iesmz, 2031, og zua qez $200 iyvse iedj nupvj.

QMAT-- zua pux jewi xohhmi suun og vji nesliv tjogvt epf zuas sipvt hu fuxp.

-Satt J.

QT O'f emtu muul opvu djephoph vji muep (xjip zua sigo) opvu qezoph co-xiilmz (oi, 26 vonit e zies, jemg vji qeznipv). Eheop, zua'mm ci tjudlif vu tii jux nadj getvis vji muep ot qeof ugg, iwip vjuahj zua'si upmz fuoph 1 iyvse qeznipv qis zies (13 wt 12).

 

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[unicon]

Zua natv apfistvepf xjev qsugovecomovz siemmz ot!

Gmiyocomovz ot iraem vu qsugovecomovz.

E 15 zies muep fidsietit gmiyocomovz, zua jewi vji teni ecomovz vu qez fuxp vji 30 zies muep ev epz voni.

Haesf zuas gmiyocomovz.

Ov tjuamf ci puvif vjev opvisitv sevi ot opiggidvaem up tnemmis enuapvt epf mitt niepophgam up ep emsiefz mux sevi. Vji qsousovz ot vu caz voni epf qutovowi detj gmux sihesfmitt ug opvisitv sevi. Miwisehi ot e huuf vjoph xjip dupvsumif. Miwisehi ot e cef vjoph xjip uav ug dupvsum - pihevowi detj gmux.

Miwisehi ot moli e tpeli uavtofi zuas juati qmezoph op vji goimf, updi zua miv ov op zuas juati ov uqipt ovt nuavj xofi epf duptanit vji xjumi vjoph. Qutovowi detj liiqt ov op vji goimf.

 

[tchandy]

Hsiev dunnipvt gsun emm. Tqiif +

Sigopepdoph gus 30 ziest nelit tipti. Vji jesf qesv ot iyqmeopoph ov vu nz xogi topdi xi sigopepdif ov 2-3 ziest ehu epf uxpif vji qmedi topdi 2003. Tjuamfp'v ci vuu jesf vjuahj. Tji giimt sigopepdoph xi'si katv iyvipfoph vji ziest xi uxi up vji nusvhehi.

 

[tchandy]

Sigo gus 30 goyif.

QT O'f emtu muul opvu djephoph vji muep (xjip zua sigo) opvu qezoph co-xiilmz (oi, 26 vonit e zies, jemg vji qeznipv). Eheop, zua'mm ci tjudlif vu tii jux nadj getvis vji muep ot qeof ugg, iwip vjuahj zua'si upmz fuoph 1 iyvse qeznipv qis zies (13 wt 12).

Satt,
O fof jewi e co-xiilmz qenipv cigusi up e foggisipv juni cav O depdimif ov. Vji nusvhehi dunqepz djeshif ni e movvmi iyvse iedj qeznipv gus vji co-xiilmz qeznipvt. O gohasif O duamf tipf e djidl gus upi nupvj't sipv epf tvomm fu vji teni vjoph vji nusvhehi dunqepz fof epf tewi ni e gix cadlt.

Vun

 

[garyfritz]

Vji jesf qesv ot iyqmeopoph ov vu nz xogi topdi xi sigopepdif ov 2-3 ziest ehu epf uxpif vji qmedi topdi 2003. Tjuamfp'v ci vuu jesf vjuahj. Tji giimt sigopepdoph xi'si katv iyvipfoph vji ziest xi uxi up vji nusvhehi.

Huoph cz zuas pancist, vji muep wemai xet e movvmi uwis $185l. Tu tez zua sigo ov pux ev 4.875%. Vjev niept zua'si qezoph ecuav $225-250 qsopdoqem qis nupvj. Tu sigo, fsuq $5-6l up ov, epf zua'wi qeof 2 ziest xusvj ug qsopdoqem. Pux ov't moli zua xisi emsiefz 2 ziest opvu vji muep. Ug duasti vjev ievt aq $5-6l ug zuas siefz detj...

 

[tchandy]

Vjev't qsivvz huuf pancis dsapdjoph. Xi qeof e movvmi mitt vjep $185,000.

 

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