Refinancing mortgage & new HELOC

Categories: Mortgage

hello
I am trying to refi my existing mortgage and get an HELOC. It’s not smart for me to do a cash-out refi because that will make the loan enter the jumbo loan category
My house has a lot of equity(50%) but is it best to try to go to my bank first and ask for a loan modification and a HELOC?

I am just making it paying the bills but with a lower monthly payment and cash from the HELOC I will be able to pay off CC debt and do some needed repairs on the house.
Any tips?
thanks

By bkincaid | 05/12/2009 12:41 PM