financial question

Hi I am intrested in getting gastric bypass in Monterrey with Dr. Rumbaut around April. Well my father wants to finance it for me but he told me to wait till the first week of April. This because he is a landlord of several rental propertys he owns and he would first like to refinance some of these propertys around the first of April. I am 24 and I live in one of his rental units so I know nothing when it comes to financing or refinancing. My dad has great credit and he also has a full time job aside of his renting income. My question is how does refinancing his propertys look to the finance people when my father trys to finance my surgery. We are going to the two groups of finance people that are listed in Dr. Rumbaut's site. I dont know if it might look bad and they wont finance my surgery or it its not a big deal. My worry is that the refinancing looks like my father just purchased something big and that my loan for the surgery will be denied. If any one has any knowledge about this sort of stuff let me know. I wi**** was already April. I have been waiting for this surgery for a few years already dealing with the insurance companys and now that I feel so close to getting it I am scared the doors will close yet again like in the past.

First of all I would tell him to go to a local bank. See if there is a National City bank near you.. They are great to work with, because if he goes with a finance company he will be paying interest rates ten times higher!!! I just know this because we own our home and have been thinking of getting a second mortgage, and we ask our broker this question... If his credit is good, which it sounds like it with all the rentals he shouldn't have a problem.. Hope that helps!!

I would go through my local credit union. Interest rates are usually lots lower. That is what I am doing for the remaining balance of my surgery. I have managed to save half on my own, so I will only be financing half which is also better for quicker pay off.

I am not sure why your Dad wants to refinance his properties before applying for the money for your surgery - but it may be to reduce his monthly payments or to consolidate loans on the properties or do other things to improve the way his financial situation would look to others. Perhaps you should ask him why he wants to refinance before you apply for your surgery financing. Otherwise, I think the best advice is to trust that he know what he is doing. Best wishes. Nancy

Hi thanks for your opinion. My father wants to refinance first because he has been wanting to do that sense awhile back just to lower his payments alittle. My surgery financing just came up and he said he'd help me but to first let him refinance like he had been planning to before I told him about the surgery. But I recently spoke to him and he told me not to worry about it that he can get approved for the surgery loan. So I feel a little better and thanks to those who wrote. I know its not a big deal but I really want this surgery and I have waited for so long. For a minuter there I thought I would never get done in the states or Mexico. But hopefully thats going to change. My father also told me to go ahead and get the surgery date and not to worry about the cost. So thats what I am going to do. thanks again.