Articles Comments

Debt Relief – Insolvency – Bankruptcy Information » Mortgage Refinancing » Can a person refinance a home equity loan, as opposed to a refinancing a mortgage? ?

Can a person refinance a home equity loan, as opposed to a refinancing a mortgage? ?

A couple of years ago, my spouse and I doubled the size of our home which we had owned “free and clear.” To do so, we took out a 20 year home equity loan for $250,000 at a rate of 5.85%. Since we already owned the home and this was technically not a mortgage, there was no downpayment on this loan. With rates coming down, do we have any hope of refinancing our home equity loan? Or, is refinancing basically restricted to mortgages? Thanks.

RELATED POSTS:

  1. Buy Home Loan Mortgage Refinancing Purchase Home Equity Dallas Welcome to Town Square Mortgage & Investments! Town Square Mortgage and Investments, Inc. is committed to finding the right...

  2. Refinance Your Home Loan: Stress-Free Mortgage Refinancing! www.HomeMortgage.com If youre looking to refinance your home loan — dont stress! HomeMortgage.com can help! Let us work for...

  3. How Soon Can I Take Out a Home Equity Loan or Refinance After a Cash Purchase of a Foreclosure? The house is only 10k. So if I pay 10k cash, how fast can I do a home equity loan...

  4. Mortgage Refinance – Home Mortgage Refinancing – Bad Credit Mortgage Refinance Need mortgage refinance advice? USLOANZ will help you to get Home Mortgage Refinance and Bad Credit Mortgage Refinancing easily...

  5. Equity Florida Home Loan Mortgage Refinancing Through www.readerpoint.info ...

Written by

Filed under: Mortgage Refinancing · Tags: , , , , , , ,

2 Responses to "Can a person refinance a home equity loan, as opposed to a refinancing a mortgage? ?"

  1. scottsmylie says:
    You can refinance a home equity loan. 5.85 seem like a very low rate as it is for a home equity though.
  2. Noneya says:
    because the loan was secured by real estate it is technically a mortgage. If you do refinance you will be looking at a either a new conventional mortgage or a new home equity loan.

Leave a Reply

Connect with Facebook

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Not finding what you're looking for?
Do a custom search of our entire site:

Get Adobe Flash player