Can you refinance a home equity loan and get cash out?

Answer On One Hand: Yes, You CanYes, a borrower can refinance his home equity loan and receive cash out after the three-day right of rescission period has ended. Typically, the cash out is added to the de... Read More »

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What is the difference between a home equity loan&a home equity line of credit?

Home equity loans and home equity lines of credit are two ways to borrow against the value of your home. Though they both use your home as collateral, they differ in a number of ways.Accessing Fund... Read More »

Can I Refinance My VA Loan If I Have an Equity LOC?

You can a refinance a Department of Veterans Affairs, or VA, secured loan even if you have a home equity line of credit, or HELOC, secured on the same property. The VA insures loans on behalf of le... Read More »

What is a cash out refinance loan?

A cash out refinance of a mortgage allows a borrower to tap into the builtup equity in his home for other purposes, such as debt reduction, home repairs, or cash reserves. It increases the mortgage... Read More »

Is a cash-out refinance mortgage a non-recourse loan?

A non-recourse loan is secured against collateral. If the borrower defaults, the lender seizes the asset, and the lender can take no further action against the borrower, even if the value of the co... Read More »