Originally Posted by Smells
Originally Posted by Dallas County
Originally Posted by Smells
Originally Posted by BamaGrad85
Yes, you have to re-finance. Rates aren't too high are they?


No I'd actually get a lower rate. I intend to refinance but I'm not ready to do it now. When I do I will pull some of the equity out but I don't yet know exactly how much I need and don't want to refi until I do. I would however like to get it all in my name only. Looks like I'll have to wait a bit more.
How do you pull equity out when refinancing?


Well I've never refinanced before so I may not know what I'm talking about but I only owe around 12k on it and will probably refi for somewhere around 75k but I don't know the exact number yet which is why I don't want to refi until I do.



In that case I would just take out a home equity line of credit (in your name), then pay off the existing mortgage. That would save a bunch of closing costs.