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Asked by Brain Steffey, Bluff City, TN Thu Oct 18, 2007

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Deborah Madey, Agent, Brick, NJ
Thu Oct 18, 2007
If you are currently listed, you cannot refi or apply for a HELOC. If you are not yet on the market, you can apply for a line of credit and use that to keep the payments current, if necessary. With a line of credit, you only draw upon it by choice. It's not a long term strategy. You will want to price agressively to get a contract quickly. A few extra payments will eat into your equity quickly.

You will need to work out the details w/ your spouse to determine how you will share these expenses and liabilities. I would suggest you speak w/ your attorney before proceeding on any plan.
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