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What kind of equity must I have to refinance now?

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lawofcsrjp Joined: 30 Sep 2009 Posts: 1 1.26 Dollars($)	Posted: Wed Sep 30, 2009 12:25 pm    Post subject: What kind of equity must I have to refinance now? Like 0 Dislike 0 I have very little equity in property in West Los Angeles and need to refinance.
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12358 Location: bloomfield, ct 55.25 Dollars($)	Posted: Wed Sep 30, 2009 12:27 pm    Post subject: Like 0 Dislike 0 you'll definitely need more than a little _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044
jveenstra Community Expert Joined: 10 Nov 2008 Posts: 1256 Location: River Edge, New Jersey 264.15 Dollars($)	Posted: Wed Sep 30, 2009 2:44 pm    Post subject: Refinance Like 0 Dislike 0 If your existing mortgage si owned by Fannie Mae or Freddi Mac you may be able to refinance up to 105% or 125% of the value. This would be a rate and term refinance. No cash out is permitted. _________________ John Veenstra, Sr Mortgage Consultant Approved Funding Corp Licensed NJ NY CT PA 201-833-0123x278

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