April 8, 2009

Do you have enough equity to refinance?

By Marcie Geffner - Bankrate.com

If you'd like to refinance your mortgage but don't want to shell out hundreds of dollars to find out whether you have enough equity to qualify, you're not alone. Plenty of other homeowners share your dilemma, and good solutions aren't easy to find.

"A lot of people have called, got the application, locked that great rate, and then it's down to the appraisal and the deal falls apart," says Joe Metzler, a mortgage specialist at Mortgages Unlimited in St. Paul, Minn.

Read on: http://www.bankrate.com/brm/news/mortgages/20090305-enough-equity-to-refinance-a1.asp?prodtype=mtg