Refinancing Master

I’ve been adviced to refinance my home but somebody also told me it’s a lot faster to get a home equity… although I’m pretty familiar with refi I’m not so sure how does the home equity line works.. do they order appraisal on the property? or just simply look at the value…? Is is better to go to like, Bank of America or Countrywide? or any other suggestions to get home equity line?

My house has appreciated considerably, and I am looking to pay off my current mortgage rates and adjustable loan to get with a fixed interest rate at a lower rate, as well as extra money to fix it and pay off my car loan and other accounts . Also do not belong to property taxes and insurance, or I will have to pay out of pocket? I just want to know before the base to the bank so I do not feel confused or overwhelmed. Thank you!

We have a variable equity line of credit and would like to refinance it without refinancing our home. Even it sounds impossible, maybe you can help with some refinancing idea. thanks for any suggestion.

I have some home repairs in the near future and am wondering whether it is best to go with home equity line of credit or just refinance on my mortgage. The home is a recent purchase so the mortgage rate would probably not be any lower. I’m leaning toward the line of credit because I also work for a company that is going thru some restructuring and figure having a line of credit available is some security if I find myself out of work. What is your vote… line of credit or refinance?

So that your second payment will be based on a 30 year fixed rate rather than a refi. Will it be a smart thing to do. When you sell out you can pay the second mortgage with the first and still walk with remainder of equity. Is this legal and does it make since.

my home been paid off years, so getting home equity line was quiet easy.My home valued at 250000.00 and my equity line is for 100000.00. I’m in residential construction, so you know these are terrible times for us. having max out equity line i can,t aford the monthly note.can i or should i refinance.

if i just needed to consolidate bills and pay off some debt which would be the best way to go?

Our house was appraised at $228 less than 3 years ago in Houston. My employer is closing its facility and will follow with subsequent layoffs. My last day in March 13th. I was wondering if the folks in Washington were offering some type of assistance to those who have been laid off by helping homeowners get lower interest rates on refinancing.
Well the problem with that is I barely have 5K of equity in the home now. I am on a fixed rate of 6% at the moment, but in a little more than 2 years it will go variable. The good thing with all of this is that I will be receiving a severance package that secures me financially until August.

Can you refinance a home equity loan to get a lower interest rate?

If not, can someone explain how a second mortgage works in laymans terms? Can I take out a second mortgage if I haven’t had my house that long?

I have a divorce settlement that left me with my house and my exwife relinquished the home. I have a tenant who pays my mortgage and everything is fine. Its just that when i want to make a move like
refinance, I am pretty sure i cant because i dont have a job (unemployed). Also i would like to get a home equity small loan but i feel like again it will be the same thing. Should it be this difficult for a home that is in good standing, i have great credit too. One of my problems is that the divorce doesnt take wife off of note. I even did a quit claim but still i am told i have to refinance to get her off the loan. But i cant refinance cause im not working…..do i got the vicious circle right or should i try a different banker?

My brother helped me buying the house off. Now I need to finance the house to pay him back. Will this be considered a new mortgage, a refinancing or an equity loan (since they have different interest rates…)
thanks!

Thank you.

We have only had our mortgage for 3 years now.

We currently have a home equity loan and a mortgage, but want to pay off credit card debt. Can we take out a new home equity loan, paying off the current home equity loan and credit card debt which would result in the home equity loan balance being larger than the mortgage balance? There is ample equity in the home to support both. We do not want to refinance to a new mortgage because we are thinking of selling in the next few years and don’t want the expense of closing costs on a new mortgage.