I want to get the equity out my house do you have good credi

hi stephanie,

unfortuanately, ths is one area that has been hit hard by the constriction of the mortgage market. for the most part, 2nd mortgages do not go above 90% andymore, and you need at least a 680 or 700 in most cases. you didn't say what your score was.

if you really need the cash, then you can consider doing a fha cashout refinance which would allow you to go up to 95% of your homes value, but this should be a last resort, as refinancing is not cheap.

kim

Hi Stephanie,

Cash out refinance is an option you can think about. But your monthly payments are likely to increase as the loan amount is higher because you're pulling out cash in the process. However, if the new loan term is long enough, chances are your monthly payments can be low. Check out the cash-out refinancing options from an earlier discussion on this topic.

Thanks,

Jerry

Stephanie:

I would be happy to assist you in reviewing your options. We work with hundreds of lenders...some (portfolio banks) who still lend on sub-500 scores.

Feel free to contact me to discuss.

Regards-

Ken Klawans, CSA
Certified Senior Advisor
Certified Reverse Mortgage Specialist

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how to get equiky out of my home 01253 591664 thank you

Welcome mrs carol lawler,

If you have equity in your property, then you can contact your lender and refinance your existing mortgage. This will help you in cashing out the equity in your property.