Equity Mortgage
Would it be better to continue to give our line and our mortgage or refinance loans for 1?
Our interest rate 5.87% mortgage, but we have a variable interest rate currently at 7.5% in the line of equity. Now that we have achieved equity line we're having trouble getting both payments. Does the payment be less when combined loans and refinancing?
obviously if you could refinance with a fixed rate loan on 1 and 2 would be your best bet, it is possible is another question? most important factor is the equity in the property compared with the value of the note both the 1st and 2nd if you have at least 20% of the shares on the notes you should be fine with everything else a good credit without knowing the facts may not be able to refinance all
Waterstone Mortgage Prime Equity Group of Boise Idaho on Ch 2 News Mortgage Help
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