Open Question: Cash Out Refinancing for someone with high debt-to-income ratio?

[Administrator]

I am trying to refinance my home and consolidate some bills. The mortgage balance is $207,998 with a HELOC of 44,982. I want to consolidate those two for a lower payment and a fixed rate(the interest on the 207,998 balance will adjust in October). I also want to consolidate my car($18,728) and my credit card($4,500). But no one will approve me. Countrywide and Wells Fargo have both turned me down. I am waiting on HFC right now. I have a 654 FICO, but i keep getting told that my debt to income ratio is too high.My gross income is $4,139 per month. I have $50,000 in student loans, but those are deferred until later 2009. Does anyone have any advice. By the way, I have never missed a payment on any of my bills. I would like to pull out at least $10,000. My estimated home value is $300,000.If there are any brokers out there who think they can help me, let me know.


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