Posted on: 01st May, 2008 08:43 am
[size=12:cb815ec18f][/size:cb815ec18f]i had a home equity loan that i wanted to refinance (the loan is 3 years old). i wanted to refinance the balance of the loan and get an additional cash amount out to consolidate bills. i was told that in texas i cannot refinance and get cash back with the one loan. i'm told that i have to refinance the first loan and after that closes, i can immediately apply for a home equity loan for the cash to consolidate my bills. is that texas law?
Welcome Nora.
I believe you can do cash out refinance of your home equity loan. I have not ever heard any laws like that. If you have taken the law 12 months ago then you can go for it. If your present lender cannot help you to refinance the home equity loan then shop around for lender and check out if anyone can give better rates and terms.
Let me know if you have any further questions.
I believe you can do cash out refinance of your home equity loan. I have not ever heard any laws like that. If you have taken the law 12 months ago then you can go for it. If your present lender cannot help you to refinance the home equity loan then shop around for lender and check out if anyone can give better rates and terms.
Let me know if you have any further questions.
TX only allows cash out refinance to 80%
B
B
