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Updated over 9 years ago,
How do I do a cash out refi/heloc/LOC on this house?
I have a 3/1 in West Baltimore that I bought on owner finance at 10% and had the wholesaler finance her fee as well. I just repaid the wholesaler and can now refinance. How do I get cash out of the property? I bought the house when it was tax value appraised for 55K, then had it contested to 30K. I gutted the whole thing, everything in the house is new. Houses in the area with similar levels of rehab are selling for 50 - 75K. I own $7500 on this house.
How do I get money of this house and drop the interest that I'm paying?