Friday, December 16, 2011

Confused about mortgages. Help!?

We have two mortgages; one for $50,000 and the other is a home equity line of credit for $25,000. We own a rental worth$120,000 and is paid for. Our business is not in debt and is worth $300,000. The problem is we have used the mortgage and home equity to totally remodel and upgrade the rental. Now we are having trouble figuring out how to pay for our own home's remodel and roof, drywall, wiring etc. It won't have much equity in it as it stands. Any ideas?

0 comments:

Post a Comment