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During this process, the lender may require a property appraisal to verify your property value. This can take about a week to complete. If you're approved, you'll have to sign the contract to seal the deal. Be sure to review details to ensure it's what you agreed upon. Once the agreement is settled, your lender will require all the upfront payments such as the closing costs. After which, you'll be officially "refinanced" and you may continue your renewed mortgage payments. Should You Refinance Your Rental Property Mortgage? If done right, refinancing your rental property mortgage can help you save on interest, lower your monthly payments, pay off your mortgage faster or help you gain access to cash. On the other hand, the fees associated with refinancing can be very expensive and can easily outweigh the savings. If you plan on refinancing, be sure to calculate the costs and savings associated with it to see if it is worth it. Rating of 3 /5 based on 16 votes.
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Note: This article has been replaced by an updated version. At The Day Job, we've started moving some of our development processes to Amazon EC2. Occasionally, we need to radically increase the processing power available for continuous integration, unit testing, and user acceptance testing, but don't want to incur the cost of all that horsepower when we don't need it. Cloud-based solutions like EC2 1 are a good fit for this kind of on-demand usage. Until recently, I haven't seen documentation or tutorials of the right scope and flavor to get me to dive in and learn how to set up the virtual instances we need. I was under the impression that I needed to create a custom AMI loaded with the software we needed to run – a process that appeared dense and convoluted. My perception was changed by three very important pieces of information: An article by Michael Leonhard on setting up and using an Amazon EC2 instance as a "desktop" machine, which led me to The discovery that Amazon and Canonical (the publishers of the Ubuntu Linux distribution) offer bare Linux AMIs, configured like fresh installs on new hardware, which led me to Ubuntu's CloudInit, a process for initializing and configuring a freshly-launched AMI instance So, that's what I've been looking for: a well-defined starting point, and a documented, repeatable way of configuring a new instance.
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Here's a scenario – There are valuable items in your house that a certain burglar has his eyes on. But he knows that you have a fancy security system in place, which could create quite a few problems for him. So he devises a plan. Figures out where your house's main electrical supply is and what wires he would need to cut to make sure the alarm won't go off. With this in mind, he makes his way to your home, crosses the driveway and manages to get to the main electricity supply. Now, he can simply cut the wires leading to your security system. And your entire house would be at his mercy. Sounds scary right? And what makes it worse is that you even had a home security system there to defend you. Don't let this scare you. And no, your security system is not useless. All it needs is some fortification. Technology has gone far beyond the expertise of burglars; you just need to know how to use it to serve your purpose in the best possible manner. For over 100 years now, most security systems have used the same traditional technology that mainly revolves around electric wires and phone lines.