Cashout Refi vs HELOC

[Robert Molloy]

Long story short:

Wife and I need to refi our primary residence to take her ex-husband off of mortgage and put my name on there.

Looking to tap into the home’s equity in the process to fund our first deal.

Is it smarter to:

Do a Cashout Refi

or

Refi and open HELOC

Thanks for your time.

[John Teachout]

Back to the original post, do you need funds to reimburse the ex? If not, then perhaps no action is required other than getting a quit claim from him.