If u have a 1st mrtg which going frm fixed to adj. and u have a maxd heloc, is it wise to conslidate?

Written By: admin on September 23, 2009 No Comment

Like many unfortunate loons, i too am going to be coming off a temporary 2yr. fixed on my mtg unless I slip into a new refinance job. Question is, I also have a heloc which I’ve used unwisely to the hilt. Yes, the house looks nice, but I’m about to price myself out unless I do something quick. Trying to find out if it’s worth it to do a "combo loan" w/prime lender which will of course give me a fixed fha loan. I’m concerned because once again I’m tapping the house again for a bit of liquid security, but I hope that I’m putting it into a more secure setting going fixed. I also admit to having dreams of selling and starting again in a newer house which wouldn’t be as much. I’m emotionally attached to the house and I reckon that may be clouding my logical judgement. Thoughts please…