I have a home with a lot of equity. I can't refinance or get a second mortgage.?

Tuesday, 24. August 2010

Home with lots of equity. Can’t refinance or get a second mortgage. Any other alternatives. I need some cash!


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2 Responses to “I have a home with a lot of equity. I can't refinance or get a second mortgage.?”

  1. August 24th, 2010 at 8:24 pm

    David Z Says:

    sell it. that frees up all the cash

  2. August 24th, 2010 at 8:24 pm

    Steve D Says:

    I guess the question is – if you have tons of equity, why can’t you get a HELOC/second. If it because of bad credit, no one is going to lend you money on an unsecured loan if you can’t get a secured loan except at very high interest rates. If it because you are unemployed, no one will lend you money with no source of income to pay it back.

    This leaves family and friends or selling things you own. If the house is big enough, you could take in a boarder to help out with expenses.

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