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Subject:  Re: How much is enough? Date:  1/8/2011  9:16 AM
Author:  aj485 Number:  68152 of 97871

It's trivial to refinance; we've done it several times, including once when we extracted $200k to improve the downpayment on the Chicago home.

It's no longer as 'trivial' to refinance as it once was. Requirements are tighter, especially on non-owner-occupied housing. So while it may have been trivial to pull out $200k from your rental property at the time you did it, you may not have been able to do so in the current environment.

At least one state (Texas) has restrictions on how much equity can be pulled out of a property. And it's costly - 'cash-out' refis have a higher interest rate than 'rate & term' refis, in addition to the typical closing costs.

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