How to find a good finance company? - Mothering Forums

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#1 of 3 Old 03-29-2005, 05:26 PM - Thread Starter
 
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We'd like to refinance our home... mostly b/c it is now worth much more than we paid and we need the cash to pay off debts and fix te outside (HOA found our siding and a window in violation and it does need fixed). We need to do it fast because we only have 60 days to do renovations...

Has anyone recently refinanced? Any reco's or watchouts? We have okay credit... the bad stuff is almost gone, but not quite yet... one or two more years.

Also, our rate right now is pretty low... 6%. I'm not sure we'll get lower without paying for it. So maybe a HE Loan or LOC would be better? Does anyone know the difference?

:LOL Can you tell? I am clueless!

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#2 of 3 Old 04-05-2005, 03:12 PM
 
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hi, just bumping this up because we're interested too. I'm trying to "shop around" right now, and I'm clueless as to what I should be asking. FWIW, we did a home equity loan through our bank along with a line of credit two years ago. I have no idea why or whether that was a good idea. Now we're interested in refinancing with cash out, but I don't think we can get what we need. But, the folks at the back can discuss the difference between HEL and LOC with you, if you trust 'em....

good luck! megan
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#3 of 3 Old 04-14-2005, 10:50 AM
 
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I came on here to post a very similar question! We are looking to get a mortgage to purchase my mom's home that we are currently living in. We are purchasing it for much less than what it is worth and would like to get some cash out to pay down our C.Cards. My mom is desperatly in need of the $$ and we need to get this done fast! Being my first mortgage- I am clueless. Looking forward to hearing what other's have to say in reply!

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