With the current economic meltdown are banks refinancing at all? my house is worth around 450 000?

Frida
That's down from 600, 000. My credit rating is around 700. I live in So.Cal. I would need about 100, 000 out of it and I owe about 200, 000.

Carmelia
Hi there! Essentially, you're looking for a cash-out refinance with a loan amount around $300, 000 and your home is worth $450, 000? Your loan-to-value would be under 70%. Sounds totally doable, assuming your credit is over 700 and you can clearly document your income (in other words, afford the new loan). Any banker would definitely have to take you through the qualification process to be sure, but that shouldn't be a problem.If you have any questions, feel free to contact me directly through out profile.

Fleta
Sure - even after taking 100k out you're still at about a 67% LTV and with a decent credit score. As long as the credit rating checks out and the property appraises without other liens or delinquencies, you shouldn't have any problem getting that refi loan.