No. of Recommendations: 0
You probably won't get a good rate if you refinance for more than a house is worth.
You can only deduct interest on a mortgage of the value of the house on your taxes.
If a lender will agree to the loan, you will have to pay PMI, which gets expensive.
You probably do better to keep the mortgage you have
until you have paid down to where you have at least 20% equity in the house.
Best wishes, Chris
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