kate11c asked:


Recently my family has come into some unexpected finacial obligations. We own our home free and clear and its on the tax apprasil role for 120k(dont laugh texas real estate is really cheap) My question is what is the most efficient and most expediant way for pulling equity out of our home. Is it a home equity loan? Can you get a regular mortgage on a home you already own? And do would we still have to pay an apraiser and go through all of the closing costs even if we only need to borrow 50 percent of the value of our home. thanks

LOYD