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thatme

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How can you convert a home equity loan into a conventional loan?
We have a HELOC ($54000) and our home loan, which is an adjustalbe rate mortgage at ($233,000). Our home value is between $213,000-$236,000. We want to refinance our home mortgage but were told we could not because of the HELOC. But were also told that if we were able to convert the 2nd into a conventional loan then we would be able to refinance. Any information you can give would be appreciated.

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Check around because your a good candidate for a loan modification.  Some mortgage companies or your mortgage holder can help you.  Good Luck.

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In  many cases these modifications are tough ( many phone calls, documentation, letters etc. ).  I have herd it taking a year in some cases and so hang in there.

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Want to convert my current 2nd

I have a variable HELOC. How can I convert it into a fixed rate 2nd?

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