Zillow Advice RSS: Question-Discussion-Guide,Mortgage,Johnsburg- IL http://www.zillow.com/advice/Johnsburg-IL/mortgage/question-discussion-guide/ Zillow Advice search results | Zillow Real Estate Advice needed - Cash out refi or HELOC http://www.zillow.com/advice-thread/Advice-needed-Cash-out-refi-or-HELOC/547599/ My wife and I short sold our house in November 2012.&nbsp; We moved into a house that was purchased in August 2013 by my mother-in-law and my brother who is a "non-occupant co-owner".&nbsp; The mortgage is paid from our checking account.&nbsp; <br/><br/>In February 2014, the Title of the house was Quit Claimed from my brother to my wife and me.&nbsp; So currently, the mortgage is owned by my mother-in-law and brother yet the Title is in my name, my wife's name and my mother-in-law's name.<br/><br/>My FICO score is 670<br/>My wife's FICO score is 660<br/>Debt to Income Ratio is 30%<br/>Credit card balance is $70,000<br/>Credit utilization is 60%<br/>Purchase price of house in 2012 was $220,000<br/>Mortgage balance is $157,000<br/>Value of house according to Zillow is $434,000<br/><br/>I have worked for the same company for 17 years and make approximately $90,000 per year not including bonus.&nbsp; I also have a seasonal job as a tax preparer and earn about $4,500 per year in that position.&nbsp; My wife works part time and makes about $20,000 per year.&nbsp; <br/><br/>Between now and November we will continue to aggressively pay down our debts so our numbers should improve.<br/><br/>Would we qualify for a cash out refi or HELOC come November?<br/><br/><!--[if gte mso 9]><xml> </xml><![endif]--><!--[if gte mso 10]><style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-style-parent:""; font-size:10.0pt; font-family:"Times New Roman";}</style><![endif]--><!--[if gte mso 9]><xml> </w:WordDocument></xml><![endif]--><br \><br \>6 replies Sat, 28 Jun 2014 14:31:00 GMT http://www.zillow.com/advice-thread/Advice-needed-Cash-out-refi-or-HELOC/547599/ 2014-06-28T14:31:00Z