Should I sell now or would refinancing be a mistake?

Question by Sheila: Should I sell now or would refinancing be a mistake?
I am 5 yrs into a 30 yr fixed first 10 yr interest only mortgage. This is a rental property that I have to pitch in 100$ every month to make work. I have approx 20,000 equity if I were to sell now. I have been turned down twice for refinancing and the company I mortgage with is no different.

Best answer:

Answer by sassy25
Sell now since you are operating at a loss just paying interest on the mortgage. How will you make the payments when principle gets added in.

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