Q&A: Is it cheaper to refinance or sell house?

Question by whoanelly: Is it cheaper to refinance or sell house?
House is worth $ 100,000. Sale price is $ 97,000. I owe $ 62,000. Ex gets half of profit. So, would it be cheaper to refinance at low interest rate, take out 2nd mortgage to giver ex their share or to sell house and split profit? I want to keep house if I can since it would take a while to get a down payment for a different place to live.

Best answer:

Answer by Bostonian In MO
No way to say from the information provided. The profit depends upon how much you paid for the house, now how much you currently owe on it.

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