Car Wash Forum
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Refinancing
- Thread starter randall
- Start date
I don't know what your situation is but I refinanced my home to pay off the loan on my car wash. The best rate I could get commercially was a little over 5% so I refinanced my home at 3 7/8, no pts. and paid off my 6.8% commercial loan. The 15 year amortization on the refi had a lower payment even after getting an extra $10,000 over my other loan balance and it had a 25 yr amort.
Waxman
Super Moderator
These days bankers make you sign personally for everything anyway, so your home is usually lumped in somehow.
You can file a Homestead Protection Act form and protect yourself somewhat, but good luck trying to get a big loan w/out your personal property attached somehow to it unless you have a big downpayment, etc.
You can file a Homestead Protection Act form and protect yourself somewhat, but good luck trying to get a big loan w/out your personal property attached somehow to it unless you have a big downpayment, etc.
