Texas Refi question

[Administrator]

Ok...I hope you can understand my question...we have a home in dallas with a home equity mortgage balance of 119k and appraisal of 197k we also have a home improvement loan at 38k. we would like to: take the home equity loan and consolidate or cash out for cc debt and a car loan...and we would like to keep the 38k as a different payment because of the 80% ltv rule....if we can not do that a must combine the 119k and 38k...could we get a 2nd mortgage to consolidate-one that does not have a 80% ltv issue...i'm trying to find a loop hole if we need one...thanks!


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(Source: mortgagefit.com)