Should I refinance house?

[Guest]

I will try to keep this reasonably short. Due to my daughters

illness, my own surgery and personal reasons, I left my job of 23

years, a year ago. I do not regret the choice. I managed to stay on

top of the bills using my savings, child support and unemployment my

job allowed me. A month ago I REALLY lucked out and got a better job

that pays even more. At this point all my bills are current except my

mortgage which is one month behind, and I have some smaller medical

bills being payed off. I am not worried about catching up on it. The

problem is I want to help my daughter get a car. She was on weekly

medical treatments that had severe side effects. She is now healthy

and looking for a job. I have about 8 years left on my mortgage to

pay off. I am thinking I will refinance for the same period of time

left and get money out from my equity. Does anyone think I will look

crazy asking my bank for this when my current mortgage is late? I

don’t want to get another loan for this, as I plan to make extra

payments on my mortgage principle to pay it off earlier. I also was

planning to use some of the money for small home improvements. So my

homes value would benefit too. My daughter needs a car now. We all

know our credit takes a long time to clean up. So any advice would

truly be appreciated! Would I be laughed out of my bank?

[Author]

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