Quote:
Originally Posted by Justout
because of the recent rate adjustment which increased our mortgage by $350. Yes it loses $450/mo but that's only in the last 2 months, we tried to refinance but the 30yr fixed didn't make much of a difference in the monthly payment, I think it came in at $1340 instead of the current $1400, plus we'd have to pay closing costs to refinance.
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My opinion remains the same. Unless you can change something to make the property break even (some combo of higher rent and lower expenses), you should sell it. A losing investment is a losing investment regardless of what circumstances conspired to get you into that situation.
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Steve
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