Posted by John (WA) on December 10, 1999 at 11:22:29:
In order to best answer your question it would be best to know what your credit is like. Also, how or what have you done to assess a 190K value on the home?
Your question suggests you are relatively new to REI. If this is a correct assumption I would caution you about taking out that much cash from your home. I don’t know what your situation is or your needs but if I were in your shoes I would look to retail the property for FMV and turn those $$$ into profit vice debt. Just my two cents worth.