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Hey Brady, Thanks for the advice. So i will go from; $35K P&I (Parental Guarantor) $215K IO to $250K IO $40K IO Thanks again. Probably the wrong section to ask but what is the standard rainy day fund? Is it 3 months rent? I will search the forums too. Thanks.

Hi thanks fro the quick reply. Sorry, there is only $40K from the currently property. Current Loan $250K (Property Val $360K) - $35K P&I (Parental Guarantor) - $215K IO I want to consolidate this to one $290K IO loan releasing $40K equity. ($250K + $40K equity = $290K) Is having a...

Just wanted some thoughts on this setup and make sure I am not creating any future issues. I currently have one loan @ $250K: - $35K P&I (Parental Guarantor) - $215K IO I want to: - Refinance current loan, release equity ($40K), remove guarantor - One loan with $290K IO (combined above...