My house is paid off and now looking to buy my half after a divorce they want me to get a refinance loan?

Celesta
does this sound right? Why do they call it a refinance if it is paid off?

Luna
Even though you are originating a new loan the terms used for your situation is cash out refinance.

Isidra
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Anette
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Jacquelynn
Let's say the house is worth $100, 000 and it is paid off. And assuming your wife lived with you during those mortgage payments. She is entitled to half. So you either give her $50K if you have it, or you sell the house for $100, 000, pay her the $50, 000 and you finance the remaining $50, 000.

Palmer
Hello Everybody, my name is Jason Phillips, a U.S based graduate.i know of a good money lender who loans at a minimum interst rate of 2%.He happens to be Mr.John Clarke.he is the person i owe all gratitude because he gave me loan of $50, 000 to fund my education for a duration of 10yrs. So please if you want anything like loan please do well to contact him at clarkeloanscompany@yahoo.com

Marlana
It is simply one option to get the money to give the ex- their half. If you have the cash laying around why don't you use it?