cash out refinance?
Advice, comments, questions???
-purchased home 3 yrs ago. 140k @ 6.5%- 30yrs
-owe 79k today
-tax valued @ 147k
-zillow has ranged from 130k-145 over the last yr
-recieved estimates that actually lower house note with a 20k cash out at 4.35% financing 108k with all fees rolled in
-currently owe about 15k on various credit cards
-monthly minimums on revolving debt about 400
-1 vehicle owned, owe 30k on wifes
-refinance and use the cash to clear all debts minus 1 vehicle, add 5k to savings and have 400 extra a month to put towards vehicle, house, remodel, etc
-we are happy in the house but could always upgrade
-my income- 90k
-credit score ranging from 730-750
-wifes income 50k