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First, owning two single family properties instead of one will not benefit either of you. That being said, I assume that you wish to pull equity out of your primary residence and use it as a down payment on the second. Refinance the first house with a cash out option. Your mortgage payments will increase as a result of the larger mortgage balance outstanding. Next take that cash plus savings and put down 1/3 on the new house. Take out a traditional mortgage for the second house.
Above all, have a signed agreement between the two of you regarding the disposal of either house should one person die or wish to sell.
My best advice is to save the marriage.
What else can I help you with?
When the original purchase money mortgage lender assigns the mortgage to a second party does the value of the benefits pertaining to purchase money remain the same?
Yes, if the lenders sells your loan to another lender. If you refinance -- No.
How can refinance my auto with a better interest rate?
You ca refinance your auto with a better interest rate at www.carbuyingtips.com/refinance.htm. Another good site is www.creditprovider.com/auto-refinance-basics.asp
How soon after getting a bankruptcy discharged and getting an FHA refinance can you get another refinance?
You may refinance any time that the refinance improves your financial situation. If you are interested in a no obligation - free detailed analysis - of your situation, please contact me. I am an FHA specialist.
What is the purpose of a car refinance?
There can be several purposes to a car refinance. The most common reason to refinance is to get a better (lower) interest rate. Another reason may be to remove from or add someone to the lease.
Why do people refinance their home instead of paying it all off?
You may refinance your loan to get a lower interest rate. Another reason you may want to refinance is to get some equity out of the home in order to upgrade or make repairs.
Can i refinance car loan with another down payment?
If you refinance a car another down payment is usually not required. I refinanced a car to lower to payments and it added another year to the payoff date of the car. I wasn't required to give a down payment.
What separated ancient Greek from another?
From another what.
What is the best way to refinance foreclosure?
This depends on your home loan status but it is often best to refinance as it requires minimum impact credit by replacing one loan with another. Another option is to short sell (selling your home at a loss).
Can you refinance one home to buy another?
Generally, yes, it is permissible to refinance your first home to get the cash to buy another. Finance companies are not as generous with the money as they were two years ago. And you must disclose your plans for the money during refinancing.
Where can I compare refinance companies?
One can compare refinance companies by visiting their local certified public accountant. Another way to compare them is online using one of the many comparison websites.
Can you refinance an adjustable rate mortgage?
Yes, you can refinance an adjustable rate mortgage by converting it to a fixed rate mortgage or by refinancing to another adjustable rate mortgage with more favorable terms.
Is separated another word for fired?
no
