Posted on: 19th Mar, 2010 12:04 pm
i have a property that i am renting, i have a mortgage loan on this property. i need to pay credit cards. can i get a home equity loan or musst it be refinanced
If there is equity in the property, then you can either go for a home equity loan or a refinance. In my opinion, a refinance is a better option, as you would be liable for one mortgage only. If you take a home equity loan, then you would be liable for paying both the loans.