Re: A Question on Home Equity Line

Re: A Question on Home Equity Line

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Subject Author Date
A Question on Home Equity Line mbett 05-17-2006
The OP stated he or she wants to pay off the HELOC and have only the
new first mortgage. Maybe Irwin didn't understand that or maybe they
meant the OP couldn't pay off the loan without incurring a pre-payment
penalty.

The best idea is to read the terms of the note. If it's full of
incomprehensible legal jargon, consider taking a copy to a mortgage
broker and ask them if it can be done. The mortgage broker wants the
business and will figure out a way if possible.



other useful resources:
Government National Mortgage Association - Ginnie Mae
The National Home Equity Mortgage Association
Fannie Mae Mortgage
Movie-Corner.com Movie Blog