Refinance Help!!!! PLEASE ADVISEHi,Here is my friends situation and I need some advice on what to tell him.....He is looking to refinance ASAP, here is as much info as I can give you, I will add more if possible.Home is valued @ 550,000 and there is a mortgage and a Heloc on the property; the first mortgage is 234,000 fixed at 5.25% and the heloc is 199,000 (140,000 is variable at 4.5% and the other 59 is fixed at 6.99%. The total amount owed on the property is 433,000. This puts the property's equity at more than 20 percent which is good for the refi.Income: 73,500 a year equaling 6,125/moMin Monthly Payments:Mortgage 1,318HELOC 983Property Tax 85HO Insurance 60School Loan 215Credit Cards 700This totals 3360 a month, the high target back end debt to income ratio is 49% and currently he is at 55%He doesn't have any money in reserves to pay down the credit cards, but does have enough to possibly pay down the existing 1st mortgage and HELOC to 417,000 to become conforming. (16,000).Any ideas?????????????????Thanks This is in CASeptember 27 2012 - US00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.