We bought a home for $126,000 when the market bottomed out in 2010 and pay about $800/month mortgage. The house is now worth about $350,000 in this sellers market. We want to get rid of our mortgage insurance (FHA loan) and see if there's any way we could cash in on the substantially low mortgage to either pay off/consolidate other loans (travel trailer, etc) and/or improve the house (add a shop or garage, build better livestock shelters, etc). Is such a thing possible and how do we go about it?
Read more: Making our low mortgage work for us?
