I have a mortgage of 200K.I have a first mortgage of 160K at a fixed rate of 5.785% over 30yrs. and the 2nd one’s 40K at 9.00% fixed.Now,the value of my place went up to about 350K in the last 4 years.Should I stay with my current plan or should I re-finance? And if I do,which way should I go? Home Equity loan or Home Equity line?
Archive for the ‘Home Equity Loan Q&A’ Category
What’s The Difference Between A Home Equity Loan And A Home Equity Line Of Credit?
Sunday, May 24th, 2009Do You *have* To Wait 6 Months Before Taking Out A Home Equity Loan?
Sunday, May 24th, 2009My husband and I are in escrow for a house. We would like to remodel the kitchen with a home equity loan (we are buying the house for well under the market value). Is there any way to take out a loan on part of the equity before 6 months?
