Thinking of refinancing. Paying $2360. Monthly mortgage. In November 2018, it will increase $387 because i made a bad decision of hiring a contractor for new Roof and HVAC for my house. If i refinance with $100k cashout, my monthly mortgage will be $2900. I am planning to use the $50K to pay the Roof and HVAC and use the other half for either swimming pool or payoff car and student loans that will free up $700/month. I am thinking since that i will eventually pay about $2800 (mortgage & contractor), i will need to refinance which i will pay $2,900. This way, I can either get a new pool or payoff my debt. Can anyone help me if i am doing the right thing to refinance? Also, do i use the extra money to get a new pool (that will increase value of the house) or payoff debt?
Submitted August 13, 2018 at 09:26PM by Jaysliz25 https://ift.tt/2Ov1Arg
