Posted on: 26th Sep, 2009 03:07 pm
we have a home equity loan balance of $172,000. which is 11/2 years old. interest rate is 6.555% 30 year. appraisal am't is 243,000. private appraisers quote 285,000.
we are desirous of refinancing to reduce our pym'ts of $1094. problem: current equity loan rates are too high.
is there any other method to accomplish our goal. been told that texas won't allow a non-equity re-fi 30 yr refinance where the rate is preferable 4.95% ish
help .. we are social security retirees and need to reduce our outgo.
reverse loan make any sense?
thanks in advance.
we are desirous of refinancing to reduce our pym'ts of $1094. problem: current equity loan rates are too high.
is there any other method to accomplish our goal. been told that texas won't allow a non-equity re-fi 30 yr refinance where the rate is preferable 4.95% ish
help .. we are social security retirees and need to reduce our outgo.
reverse loan make any sense?
thanks in advance.
Please check with some fo the lenders on thsi forum
They may eb able to help
They may eb able to help