Q: I have two mortgages on two properties in CA. One will soon be used as a rental. Is it better to consolidate the two?
I should refinance both properties now because I can save money with the low interest rates on mortgages. One lender suggested that I consolidate the two loans and pay-off the loan on my future rental property. But I wonder if I will benefit more (because of the tax benefits) if I maintain the loan on my rental property?
I suggest you build a good spreadsheet and analyze and compare individual scenarios as they arise.
Jonathan Purcell is a California Attorney. This posting does not create any attorney-client relationship. The information presented here is general in nature and is not intended nor should be construed as legal advice for any particular case or client. For specific advice about your particular situation, please consult with your own attorney. This posting is not intended to constitute an advertisement or a solicitation.
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