Are you thinking about selling some investment property to raise some cash? Perhaps you want the money so you can take advantage of this great buyer’s market in real estate. Or maybe you need some extra money in your bank account to ride out some of life’s bumpy rides.
You have equity in some real estate (perhaps you own it ‘free and clear,’ or have a small loan on it), so you are considering selling it (or feel you’re forced to sell it) to free up that cash. But don’t call your Realtor just yet! Your best option is probably not to sell, but rather to refinance the property. Here are the three key reasons why you might want to refinance rather than sell:
Four essential words – Tax-Free Loan Proceeds
If you sell your property, you’d better save a good chunk of the cash you receive, because you’ll need …