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Mollie7

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own home could I refinance

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Could I refinance my home with credit report score 591 need 20000.00 for repairs 

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Many factors go into that besides your credit score. Keep in mind that there are different kinds of credit scores. Also keep in mind that refinancing a home refinances the amount owed and it does not give you extra money. Refinancing is usually done to save money on interest or to lower monthly payments. If you have enough equity in your home a lender may be able to give you more than what is owed though to help you with your repairs. I would say that you will have to contact some lenders and tell them what you need. I would see what your FICO scores are before you do anything as lenders will probably use a version of those.

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own home; refinance ??

When you say "my home" i don't know if that means that your home is paid off with no mortgage and you truly "own your home" or does the bank own you home and you just own a loan and have some equity.   First off, the goal is to pay off your home, so in most cases it is not wise to refi a home and extend the payment period.  Also, when you refi a home (check your state laws) you cannot walk away from a foreclosure without still owning the debt.  A purchase money loan allows you to foreclose and walk away.  (in my state) once you refinance, you will be on the hook should your home foreclosure have a negative balance (which often happens, one reason being is that house is a distressed sale at auction and recieves a substantional discount).  Refi is usually a bad idea; i would bless your refi  if you have a moderately  strong fico score over 700 so you can get a good interest rate.  otherwise you will be paying too high a price for the refi

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