So, not sure where we leapt from Iran (ran by Mahmoud Ahmadinejad) to Saddam Hussein (who ran Iraq before he was hung.)Not sure if "fuel" means crude oil, which both of these countries have ample supplies of, or refined oil products like gasoline.

Is my only route to buy with HML and refinance?

The biggest issue the 2 of you will be challenged with is how may properties you own which are financed. 10 financed properties is the limit for full doc loans and 5 for stated income verified asset loans.Cash Out refinances under conforming guidelines are nothing special.

If the prime rate was to climb a few points, I am willing to bet all the banks will jump back on board.I have not had a problem with my HELOC from my credit union to date (knock on wood) and they seem to have the lowest rates, lowest fees ($0), and the simplest approval process.

Tim - I'll bet your Dad taught you the meaning of real work, something far too many don't know much about.....

Based on your posts, I bet you'll have a lot to offer to the forum!

For cash out refinances the borrower must own the property for at least six months prior to refinancing.http://www.freddiemac.com/sell/guide/bulletins/pdf/bll042208.pdf.Rein USA..Basically, if your lenders conforms or sells their loans to Freddie or Fannie you may need to find a new lender.

YEAH BET GOING TO THE LOCAL REA WOULD BE A START, HUH?

That Mortgage was paid off with a 2005 86,000 refinance ARM at 9.125% that got adjustable last November.

Our own house is in a good position though since we bought it 8 years ago and didn't refinance it up the wazzoo like many of our neighbors did.