 Mortgage (by ken [IL]) Jun 7, 2011 7:29 AM
 Mortgage (by David [KY]) Jun 7, 2011 7:33 AM
Mortgage (by David [KY]) Jun 7, 2011 7:37 AM
Mortgage (by ken [IL]) Jun 7, 2011 8:04 AM
Mortgage (by Timeless [GA]) Jun 8, 2011 5:53 PM
Mortgage (by ken [IL]) Posted on: Jun 7, 2011 7:29 AM
Message:
State Specific Question About: ILLINOIS (IL)
What if you don't get enough rent for mortgage payment what do you do? --12.180.xxx.xx |
Mortgage (by David [KY]) Posted on: Jun 7, 2011 7:33 AM
Message:
This is a question to ask before starting in the rental business.
If you already own the rental you can:
1) raise rent
2) refi and or put money down to lower payment
3) sell
4) pay out of pocket the diffrence (at least your property will be paid off some day "in theory") --67.141.xx.xxx |
Mortgage (by David [KY]) Posted on: Jun 7, 2011 7:37 AM
Message:
BTW:
The debt service is only one aspect of the expense of a rental.
Not only is the investment not covering the mortgage payment, but the insurance, taxes, turn over, repairs, etc etc etc.....
Looking just at the surface, I would pick choice number 3 and sell. Even at a loss. --67.141.xx.xxx |
Mortgage (by ken [IL]) Posted on: Jun 7, 2011 8:04 AM
Message:
Thank You --12.180.xxx.xx |
Mortgage (by Timeless [GA]) Posted on: Jun 8, 2011 5:53 PM
Message:
Not a bad idea to cut your losses now than keep a losing investment. --74.229.xx.xx |
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