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heloc

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Icon Mini Profile lisa_ma





Joined: 17 Jul 2010

Posts: 1

1.26 Dollars($)
Post Posted: Sat Jul 17, 2010 10:18 am    Post subject: heloc
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ok we built our own home and moved in oct it cost us 119 to build house is worth around 190. would like to finish deck and basement and pay off some charge cards any advice on options
Icon Mini Profile adonis
adonis




Joined: 22 Oct 2005



Posts: 10562
Location: ALASKA
1089.18 Dollars($)
Post Posted: Mon Jul 19, 2010 12:30 am    Post subject:
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Welcome lisa_ma,

As far as I can understand, you've equity in your property. In that case, you can refinance the first loan and go for a cash out. The extra money that you receive from the new loan can be used to pay off the the debts that you have now.

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