Question by luffjm34: I want to put an addition on my house and roll the cost into my mortgage. Is this possible?
We have essentially no equity–been here three years and the amount left on the mortgage is approximately the same as the current value of the house. Can you refinance and roll the money for an addition into the mortgage? I think this is the only way I could afford. Thanks.
Answer by Milton
No. YOu are already overextended. The additions do not guarantee that the value of the house will increase. You have no equity to get an additional loan.
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