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Old 09-12-2011, 07:35 PM
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Join Date: Sep 2011
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Default Can I take a $1000 mortgage from my paid off...

...home? I want to take out $1000 from my house, (which is paid off) and pay it back monthly... but someone told me that u cannot take out an amount that little... is this true? Could someone please tell me what the minimum amount of money is that u can take out of a paid off house, and the house cost is $100,000. And how much would the monthly payments be if I can indeed do this, like $100 a month,and would there be interest? I really don't see any reason why a bank would not allow u to take out that amount, because if u can't pay it back they can take ur house, and they would benefit from that. I really appreciate any answers that can help me, as i'm clueless about this sort of thing. THANKS EVERYONE!!!
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