Question by athos: Is it smart to use the equity from primary residence to pay cash for a rental?
With the mortgage rate in free fall, is this a good idea to use the equity from the primary residence, refinance and purchase (and pay cash for) a rental prop? Pros and cons? Thx.
Answer by G8R
I know several people who have lost 2 homes instead of 1 using that scenario. Not sure how much lower proces may go, but be careful with your primary residence.
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