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Down Payment |
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My wife and I have been married for 2 years and will be getting a divorce in the next few months. We bought our home when we got married two years ago and have always paid on time. She or I cam manage the current mortgage on our own. The question I have is we put a large sum of money down the first time will a bank allow the equity in the house to count as our down payment or will they expect us to come up with more money down when we refinance? |
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No new down payment is required for a refinance if you have enough equity to reassure the lender that it's safe to make the loan -- and it sounds as if you do. |
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Edith
Originally published on September 8, 2007 |
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