Warning: include() [function.include]: URL file-access is disabled in the server configuration in /usr/home/ms/domains/hurryloan.com/html/answers.php on line 78 Warning: include(http://www.hurryloan.com/rightbar.php) [function.include]: failed to open stream: no suitable wrapper could be found in /usr/home/ms/domains/hurryloan.com/html/answers.php on line 78 Warning: include() [function.include]: Failed opening 'http://www.hurryloan.com/rightbar.php' for inclusion (include_path='.:/usr/local/share/pear') in /usr/home/ms/domains/hurryloan.com/html/answers.php on line 78   Go Back To Search Results Question Can I refinance a loan with another bank to the original amount if I need extra cash? I have a loan that is paid on diligently every month. It is secured by a cd of the original loan amount. I would like to refinance this loan to the amount of the original security, take the cash, and keep my original monthly payment By traveler#305 Posted on 06/14/08 Total Answers 2 Answers- You can but it's up to each bank to decide... if you are talking about a car for example they likely will not because there isn't enough value in it to cover the risk of you defaulting on your payment. If you are talking about an investment loan or a mortgage that has security for the amount you want then they will bend over backwards for your business. Answer by : Windseeker_1 On Date 2008-06-14 00:46:25 I don't see how you could because I would think the new bank would need to have the CD in their bank before they give you the secured loan. Obviously, you can't put the CD in another bank because it is being used as security for the original loan. Talk to you bank where the loan and CD is about refinancing. Answer by : Andrea T On Date 2008-06-14 09:32:45 You could do it if your current financier agrees to get the loan restructured. Talk to them about this. Answer by : Robert S On Date 2008-06-15 21:38:58   Go Back To Search Results