2007-08-11 03:53:54 · 6 answers · asked by SadToday22 3 in Business & Finance ➔ Credit
The highest you'll be able to do is 125% of the value of your home. Therefore, the highest the refinance can be is $137,500.
2007-08-11 04:03:28 · answer #1 · answered by reymop 2 · 3⤊ 0⤋
No. Here is some advice. Do not refinance your house unless you are lowering your interest rate by several points and DO NOT ever use the equity in your home to pay off credit cards. Because if you can't pay off your cards, the worst that will happen is you will have a bad credit rating. If you can't pay the mortgage you will LOSE YOUR HOUSE.
If you have a lot of credit card debt QUIT USING THEM. Pay them off one at a time. Most of the time card companies will agree to settle for much less than you owe after you quit using them.
DO NOT use a credit counselor. Most of them are bogus.
2007-08-11 04:17:47 · answer #2 · answered by mrsollieyapdahoop 2 · 3⤊ 0⤋
Make an appointment with a mortgage broker so she or he can get ALL the details. It's free or should be.
2007-08-11 04:08:23 · answer #3 · answered by Irish 7 · 0⤊ 0⤋
No, you cannot get more out of the house than what it is worth.
2007-08-11 06:03:14 · answer #4 · answered by Simmi 7 · 0⤊ 0⤋
No.
2007-08-11 03:56:15 · answer #5 · answered by mister_galager 5 · 0⤊ 0⤋
no way.
2007-08-11 03:57:29 · answer #6 · answered by Anonymous · 0⤊ 1⤋