Can someone tell me the whole process of refinancing my house?

Vanna
I was thinking of refinancing my house in order to get some money out which I need and also take advantage of a lower rate. My current rate is 6.75%. Can someone please explain to me how I should start? And how the whole process will work? Where should I check to get the best deal? I live in brooklyn, new york.

Danita
You could fill out 1 page of information on your job at your local bank. They enter the address on their computer to see what it is worth. You would have a check for $50, 000 in 4 days. That is a typical Home Equity loan. A 2nd mortgage.To refinance the entire first, you fill out 4 pages. An appraiser comes out to determine the value. 30 days later you have a new 1st mortgage and a check for $50, 000.Start where you do your banking and add one local mortgage broker recommended by a neighbor..

Byron
I recently read a library book called "Theft by Mortgage." I don't recall the author's name, but go to the library and check it out.

Myrna
go ask a mortgage broker