If you have two loans on one property but the home is worth more than the two combined can you get a home equity loan?

Since your house is now worth more THAN the two loans combined, then yes you can do a cash out refinance or a home equity line of credit depending on your situation. I'd recommend a refinance because you'd probably be better off rate wise in combining the two loans you have now into one loan and you'd be able to take out equity at the same time. This would make the lender first in line if you had to default. NOTE that this is exactly how many people lost their homes by cashing out the full equity when the market crashed. It is probably not wise to change your unsecured credit to secured if you are looking to pay bills. You may also want to look at the amortization on the two loans-it is possible that you are already paying more to principle than to interest, which is always good. The bankrate site has a good calculator for such things.