Can you tell us how to get rid of high interest rate Helioc?
mcdermottgarrett asked:
Bought a home about a year ago. 80% of the loan in a 30 yr fixed and 20% in a variable Helioc. The Helioc is at about 9% interest right now and we “think” we would like to refinance just that part of the loan- we don’t need to borrow against the Helioc and can afford larger payments. Right now we just keep looking at the interets on the Helioc and it seems ridiculous!! Also- the home was a repo and a major fixer upper when we bought it and we have done a lot of upgrading- should we wait until we have all that finished and have the house re-appraised?
With the 80/20 we had no MI
AMY
Bought a home about a year ago. 80% of the loan in a 30 yr fixed and 20% in a variable Helioc. The Helioc is at about 9% interest right now and we “think” we would like to refinance just that part of the loan- we don’t need to borrow against the Helioc and can afford larger payments. Right now we just keep looking at the interets on the Helioc and it seems ridiculous!! Also- the home was a repo and a major fixer upper when we bought it and we have done a lot of upgrading- should we wait until we have all that finished and have the house re-appraised?
With the 80/20 we had no MI
AMY
