can pay off house but still needs 30k worth of repairs.

[trentm]

Hi,

I am wondering what I should do.

I am currently owe about 78k left on my home.  I am stuck in a ARM loan at 5 by my bank who in house financed it for me back in 06 because I didn't qualify for any morgage loans. (I don't exactly have 2 solid years of income history)

However I recently sold my stocks in the stock market because I was affraid of being in another massive downswing and I have the ability to  pay off my house.

The problem is I need to make about 50k in repairs to my house (the entire exteiror of my colonial home needs lots of TLC)

My parents are willing to help me out with 20k of them.  Leaving me with about 30k worth of stuff to do.

What would be the best thing for me to do? Is there any type of private fixed loans that I can do?  I am estimating that my house value is in the 200k range or higher.

[R3DLINE]

Why dont you pay it off and get a Home Equity line of credit for 50k.....

You should have no problem with a 25% LOC on a house you completly own

[oscar_actuary]

or refi to a fixed 15 yr and use the cash to make repairs.

let your parents keep their money