[No Blue States]

We tried to do a Refi home equity loan, by the time the mortgage company got their cut it wasnt worth the trouble.
We backed out of the deal but it cost us $350 for a stinking home appraisal. unghh.

[Beagle8U]

Some people would be far better off to look into an interest by-down on their mortgage, rather than refinance the mortgage to take cash out.

It wont effect the length of the mortgage, but the payment will drop because of lower interest rate.

I did that about a year ago and it cost $500. The interest was 7 3/4 %, I got it to 5 3/4 %.( fixed rates, not adjustable)
I got my money back in just a few months in the lower payments.

I have no CC debt, but if I did I would use that extra cash to pay on the CC.

Most banks will allow an interest by-down when rates are low, They know if they don't you will just refinance the loan.

PS...You wont ever see banks advertise for by-downs, you have to ask...lol