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Looking to refinance and combined my 1st and home equity loans. My question is can I keep my home e

  • October 15 2010 - Winston-Salem
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Answers (3)

My advice would be combine the two and get a new line of credit the chances are that the new line will be cheaper that the one that already exist on you home. With rates at historical lows and enough equity in your home this could be very easy. Call me so we can discuss 503-308-0142
  • October 20 2010
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Most likely, No. Some lenders will re-subordinate on an equity line but the subordinating lender will look at all factors and most likely, reduce the amount of your equity line significantly.
  • October 20 2010
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If you want to keep your home equity line open, you would need a re-subordination agreement from th home equity lender.  This is not likley to occur if you will be increasing the balance on your primary loan.

If you have sufficient equity, might be easiest to setup a new concurrent home equity at time of closing for new primary, or plan to setup new one after closing.
  • October 15 2010
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