Equity loan?
Q. Currently I had equity loan from Well Fargo bank with rate 8.75%. Can I apply for replace that with different bank for better rate?
Asked by Bee - Fri Jan 25 12:50:45 2008 - - 2 Answers - 0 Comments
Q. Currently I had equity loan from Well Fargo bank with rate 8.75%. Can I apply for replace that with different bank for better rate?
Asked by Bee - Fri Jan 25 12:50:45 2008 - - 2 Answers - 0 Comments
How do you pull equity out of your home with taking a how equity loan out?
Q. First of all how do you build equity in a home? How do you report the equity to your lender? And lastly how to you pull the equity that you ve built up out of the home with out taking a home equity loan out? Thank you in advance for any help that you can give me.
Asked by B_dub - Tue Jan 31 09:12:05 2006 - - 2 Answers - 0 Comments
A. To build equity in your home you must either pay down the mortgage or have the market value go up. Your lender will decide if you have equity in your home. They decide how much your home is worth then they deduct how much you owe the difference is the amount of equity that you have. Lastly, I hate to tell you, their are only three ways to get equity out of a home. 1) Get an equity line of credit. 2) Refinance, and pull some money out. 3) Sell the property.
Answered by You don't know me that well - Tue Jan 31 17:02:59 2006
Q. First of all how do you build equity in a home? How do you report the equity to your lender? And lastly how to you pull the equity that you ve built up out of the home with out taking a home equity loan out? Thank you in advance for any help that you can give me.
Asked by B_dub - Tue Jan 31 09:12:05 2006 - - 2 Answers - 0 Comments
A. To build equity in your home you must either pay down the mortgage or have the market value go up. Your lender will decide if you have equity in your home. They decide how much your home is worth then they deduct how much you owe the difference is the amount of equity that you have. Lastly, I hate to tell you, their are only three ways to get equity out of a home. 1) Get an equity line of credit. 2) Refinance, and pull some money out. 3) Sell the property.
Answered by You don't know me that well - Tue Jan 31 17:02:59 2006
What exactly is a home equity loan and can I still get one with bad credit?
Q. I do own my own home but am still paying off my mortgage. My son needs more money for college and we've tapped out on student loans and my credit cards are all maxed. I was wondering what I could do and thought that a home equity loan with bad credit might be an option. I don't know if it's a good idea though.
Asked by Pantsguy - Tue Nov 24 17:13:34 2009 - - 5 Answers - 0 Comments
A. When you take out a home equity loan, you are basically borrowing money and putting up your house's equity as collateral. It's like any other loan but this kind states that the lender can take your home, in very plain terms, should you default on your loan. When you're looking for home equity loans, bad credit shouldn't stop lenders from giving one to you. It doesn't sound like you're in too good financial standings so make sure that you will be able to pay back the loan because losing your home would not make your situation any better. I sincerely recommend you spend at least a day budgeting out the next few years of your life in preparation for this new loan. On the bright side, it will be a much better lending rate than other high… [cont.]
Answered by wOOtang - Tue Nov 24 20:54:40 2009
Q. I do own my own home but am still paying off my mortgage. My son needs more money for college and we've tapped out on student loans and my credit cards are all maxed. I was wondering what I could do and thought that a home equity loan with bad credit might be an option. I don't know if it's a good idea though.
Asked by Pantsguy - Tue Nov 24 17:13:34 2009 - - 5 Answers - 0 Comments
A. When you take out a home equity loan, you are basically borrowing money and putting up your house's equity as collateral. It's like any other loan but this kind states that the lender can take your home, in very plain terms, should you default on your loan. When you're looking for home equity loans, bad credit shouldn't stop lenders from giving one to you. It doesn't sound like you're in too good financial standings so make sure that you will be able to pay back the loan because losing your home would not make your situation any better. I sincerely recommend you spend at least a day budgeting out the next few years of your life in preparation for this new loan. On the bright side, it will be a much better lending rate than other high… [cont.]
Answered by wOOtang - Tue Nov 24 20:54:40 2009
What is the difference between a mortgage and a home equity loan?
Q. I own a home that is paid off but would like to take out a loan to fund some home improvements as well as help my parents pay off their home equity loan. Given this scenario can I take out a mortgage since mortgage rates are lower or am I limited to a home equity loan. I'm not interested in HELOC's.
Asked by BC - Thu Jul 12 17:41:49 2007 - - 5 Answers - 1 Comments
A. Just the packaging of the financial product. Once upon a time Home Equity Loans were called 2nd mortgages. The real difference is risk factor for the bank. Typically Home Equity Loans are 2nd to be paid in the event of a foreclosure or other bad financial happening - leaving them exposed if there wans't any many for them at the end of the day. So they charge you a bit more interest to compensate for this additional risk. Since you would be leveraging your house for the 1st time again, and the holder of this new "note" would be the only creditor and thus 1st in line for payment in the event of default, lenders may negotiate a little and get you a better rate. Its probably something you should take to a local bank or branch where… [cont.]
Answered by dmaturin12 - Thu Jul 12 17:54:38 2007
Q. I own a home that is paid off but would like to take out a loan to fund some home improvements as well as help my parents pay off their home equity loan. Given this scenario can I take out a mortgage since mortgage rates are lower or am I limited to a home equity loan. I'm not interested in HELOC's.
Asked by BC - Thu Jul 12 17:41:49 2007 - - 5 Answers - 1 Comments
A. Just the packaging of the financial product. Once upon a time Home Equity Loans were called 2nd mortgages. The real difference is risk factor for the bank. Typically Home Equity Loans are 2nd to be paid in the event of a foreclosure or other bad financial happening - leaving them exposed if there wans't any many for them at the end of the day. So they charge you a bit more interest to compensate for this additional risk. Since you would be leveraging your house for the 1st time again, and the holder of this new "note" would be the only creditor and thus 1st in line for payment in the event of default, lenders may negotiate a little and get you a better rate. Its probably something you should take to a local bank or branch where… [cont.]
Answered by dmaturin12 - Thu Jul 12 17:54:38 2007
Can an equity loan be transferred from one property to another?
Q. I would like to sell the property the equity loan was written for. Since the market is so bad, it's no longer worth what I owe on it. I already have another property, can I transfer the loan to it?
Asked by only_mekse - Wed Apr 30 11:55:10 2008 - - 3 Answers - 0 Comments
Q. I would like to sell the property the equity loan was written for. Since the market is so bad, it's no longer worth what I owe on it. I already have another property, can I transfer the loan to it?
Asked by only_mekse - Wed Apr 30 11:55:10 2008 - - 3 Answers - 0 Comments
Can I transfer an existing home equity loan, attached to my current residence to a new residence?
Q. I took a home equity loan out a while ago and in this market, my equity has dropped considerably. If I were to sell my home, I could pay off my 1st mortgage, but I'd still have a balance of about $30,000-$50,000 on the 2nd mortgage. Do lenders transfer 2nd mortgages to a new home?
Asked by Love - Sat Aug 22 10:43:02 2009 - - 1 Answers - 0 Comments
A. simple answer: no. especially in this financial climate. you would have to satisfy all liens on the first home when you sold it, which includes the 2nd mortgage. otherwise, the title is not clear and the deal will not go through.
Answered by infinite crisis 247 - Sat Aug 22 10:48:01 2009
Q. I took a home equity loan out a while ago and in this market, my equity has dropped considerably. If I were to sell my home, I could pay off my 1st mortgage, but I'd still have a balance of about $30,000-$50,000 on the 2nd mortgage. Do lenders transfer 2nd mortgages to a new home?
Asked by Love - Sat Aug 22 10:43:02 2009 - - 1 Answers - 0 Comments
A. simple answer: no. especially in this financial climate. you would have to satisfy all liens on the first home when you sold it, which includes the 2nd mortgage. otherwise, the title is not clear and the deal will not go through.
Answered by infinite crisis 247 - Sat Aug 22 10:48:01 2009
difference between a home equity loan and a consolidation loan?
Q. What is the difference between a home equity loan and a consolidation loan? Which one looks better on your credit report?
Asked by zeishabush - Fri Aug 29 05:55:23 2008 - - 1 Answers - 0 Comments
A. A home equity loan is secured by your property and a consolidation loan may not necessarily be a secured loan. It may be just a large personal loan with the purpose of consolidating debts into one payment. A home equity loan may be used to consolidate debts but may also be used for home improvements, college costs, or any other expenses that come about. Visit to know more about the home equity loan. Also you will get low loan rates for NMTW membership.
Answered by iraymond20 - Fri Aug 29 05:56:49 2008
Q. What is the difference between a home equity loan and a consolidation loan? Which one looks better on your credit report?
Asked by zeishabush - Fri Aug 29 05:55:23 2008 - - 1 Answers - 0 Comments
A. A home equity loan is secured by your property and a consolidation loan may not necessarily be a secured loan. It may be just a large personal loan with the purpose of consolidating debts into one payment. A home equity loan may be used to consolidate debts but may also be used for home improvements, college costs, or any other expenses that come about. Visit to know more about the home equity loan. Also you will get low loan rates for NMTW membership.
Answered by iraymond20 - Fri Aug 29 05:56:49 2008
Can you use a home equity loan for something other than a home?
Q. I need a loan & some people had suggested I look into this because of the lower interest rates, instead of using high interest (not to mention EVIL) credit cards. But it's not for a home & I don't have enough collateral for the amount I'd like to borrow. I have a great credit score over 700, but also have student loans & other credit card debt, which I am very good at paying at, & make enough to make the payments comfortably. If I can't get a home equity loan, what kind of loan can I get, & at what amount & rate should I expect? I've looked around online, but all the bank terminology does nothing but confuse me, so anyone who could explain this a little more "user friendly" would be helpful! It's not for home improvement. Actually, it' [cont.]
Asked by curiousgirl - Mon Aug 13 02:09:20 2007 - - 13 Answers - 0 Comments
A. You can use the equity loan for anything. They will literally give you a check book and debit card in many cases. You are basically borrowing against the equity you have in your home. The interest you pay on this loan will be tax deductable and that is also what makes it more attractive than a credit card or personal loan. Be very carefull! Turning your home in to an ATM machine is what has gotten many people in trouble and is what has caused the "credit crisis" that we are seeing right now. The stock market has plunged because of this and the negative effects on the economy are still being played out. I would only do this if it is necessary or if the loan will add value to your home. You may find yourself in a position where your home is… [cont.]
Answered by Shay nay nay - Mon Aug 13 02:26:58 2007
Q. I need a loan & some people had suggested I look into this because of the lower interest rates, instead of using high interest (not to mention EVIL) credit cards. But it's not for a home & I don't have enough collateral for the amount I'd like to borrow. I have a great credit score over 700, but also have student loans & other credit card debt, which I am very good at paying at, & make enough to make the payments comfortably. If I can't get a home equity loan, what kind of loan can I get, & at what amount & rate should I expect? I've looked around online, but all the bank terminology does nothing but confuse me, so anyone who could explain this a little more "user friendly" would be helpful! It's not for home improvement. Actually, it' [cont.]
Asked by curiousgirl - Mon Aug 13 02:09:20 2007 - - 13 Answers - 0 Comments
A. You can use the equity loan for anything. They will literally give you a check book and debit card in many cases. You are basically borrowing against the equity you have in your home. The interest you pay on this loan will be tax deductable and that is also what makes it more attractive than a credit card or personal loan. Be very carefull! Turning your home in to an ATM machine is what has gotten many people in trouble and is what has caused the "credit crisis" that we are seeing right now. The stock market has plunged because of this and the negative effects on the economy are still being played out. I would only do this if it is necessary or if the loan will add value to your home. You may find yourself in a position where your home is… [cont.]
Answered by Shay nay nay - Mon Aug 13 02:26:58 2007
Can you still qualify for a home equity loan if you behind on mortgage payments?
Q. I'm behind on mortgage payments because, i'm going through a loan modification, but i need money to pay for school, will i be able to still get a home equity loan. Because my credit is not amazing.
Asked by youngboycaz - Sun Aug 15 13:12:04 2010 - - 2 Answers - 0 Comments
A. No. That's the FIRST thing a lender will check before granting a home equity loan. If the primary loan is in default nobody will approve a home equity loan.
Answered by Let me steer you - Sun Aug 15 13:28:17 2010
Q. I'm behind on mortgage payments because, i'm going through a loan modification, but i need money to pay for school, will i be able to still get a home equity loan. Because my credit is not amazing.
Asked by youngboycaz - Sun Aug 15 13:12:04 2010 - - 2 Answers - 0 Comments
A. No. That's the FIRST thing a lender will check before granting a home equity loan. If the primary loan is in default nobody will approve a home equity loan.
Answered by Let me steer you - Sun Aug 15 13:28:17 2010
What would be better, a home equity loan or refinance at lower rate to add on to my home?
Q. I'm wanting to add on to my home but I've never used a home equity loan. I have used the refinance method where you borrow a little extra to add on. What would be the best now, with the way the economy is and the interest rates unstable?
Asked by BamaboynTN - Sat Mar 1 09:55:07 2008 - - 8 Answers - 0 Comments
A. Forget the economy and interest rates in general. The question is, what's best for you? Compare the two scenarios, overall costs of a refi verses the home improvement loan. If you are lowering your first mortgage rate at the same time you take cash out, usually that's the winner. I'd have to have details to make a call but it's your details I need, not the economy or who won the super bowl. If you need more info, send me an email.
Answered by Tony D - Sat Mar 1 10:08:30 2008
Q. I'm wanting to add on to my home but I've never used a home equity loan. I have used the refinance method where you borrow a little extra to add on. What would be the best now, with the way the economy is and the interest rates unstable?
Asked by BamaboynTN - Sat Mar 1 09:55:07 2008 - - 8 Answers - 0 Comments
A. Forget the economy and interest rates in general. The question is, what's best for you? Compare the two scenarios, overall costs of a refi verses the home improvement loan. If you are lowering your first mortgage rate at the same time you take cash out, usually that's the winner. I'd have to have details to make a call but it's your details I need, not the economy or who won the super bowl. If you need more info, send me an email.
Answered by Tony D - Sat Mar 1 10:08:30 2008
Can you use the money from your home equity loan to buy another house?
Q. Say I remodel my house, end up with 30k in equity, and take out a home equity loan for that amount. Can I turn around and use that 30k as a down payment on another property? Edit: The new property would be used to renovate/flip and sell.
Asked by VR4Jen - Thu Jun 18 17:03:32 2009 - - 3 Answers - 0 Comments
A. Heck yes! There are no restrictions on how you can use your HELOC. Here's the deal, when purchasing another property, the new lender MAY want to "source" the funds for the down payment. Via your credit report, they'll see that you drew the funds from the HELOC. This MAY be a problem to the new lender. It depends on the LTV (loan to value ratio) of the new purchase (under 60-70% they won't care), or excellent credit. Also, if you can show your account has plenty cash anyways, it will be moot. The lender USUALLY likes the down payment to be from your hard-earned bank account, and NOT from an "equity line gamble." You may want to let the money sit in a bank account for 3 months to "season", then go at it.
Answered by Seasoned S - Thu Jun 18 17:48:12 2009
Q. Say I remodel my house, end up with 30k in equity, and take out a home equity loan for that amount. Can I turn around and use that 30k as a down payment on another property? Edit: The new property would be used to renovate/flip and sell.
Asked by VR4Jen - Thu Jun 18 17:03:32 2009 - - 3 Answers - 0 Comments
A. Heck yes! There are no restrictions on how you can use your HELOC. Here's the deal, when purchasing another property, the new lender MAY want to "source" the funds for the down payment. Via your credit report, they'll see that you drew the funds from the HELOC. This MAY be a problem to the new lender. It depends on the LTV (loan to value ratio) of the new purchase (under 60-70% they won't care), or excellent credit. Also, if you can show your account has plenty cash anyways, it will be moot. The lender USUALLY likes the down payment to be from your hard-earned bank account, and NOT from an "equity line gamble." You may want to let the money sit in a bank account for 3 months to "season", then go at it.
Answered by Seasoned S - Thu Jun 18 17:48:12 2009
How Soon Can I Take Out a Home Equity Loan or Refinance After a Cash Purchase of a Foreclosure?
Q. The house is only 10k. So if I pay 10k cash, how fast can I do a home equity loan for that 10k? I need to make repairs as it is a foreclosure in poor condition. Can I do a refinance loan and get more than I even paid for it if it appraises higher than 10k, which it will? Thanks for any help
Asked by don c - Sat Sep 1 19:51:27 2007 - - 3 Answers - 0 Comments
A. It all depends on the difference in the value of the place and the amount owed on the loan - that is what's considered your equity. Many banks will only loan up to about 80% of the equity, but a few go higher. For example, lets say you owe $50,000, but the place is worth $60,000, then you have $10,000 in equity. Take 80% of that and you have about $8,000 you could loan against. I found a great article about it on www.payoffmyloansnow.com
Answered by Bobbyhaze - Tue Sep 4 21:50:49 2007
Q. The house is only 10k. So if I pay 10k cash, how fast can I do a home equity loan for that 10k? I need to make repairs as it is a foreclosure in poor condition. Can I do a refinance loan and get more than I even paid for it if it appraises higher than 10k, which it will? Thanks for any help
Asked by don c - Sat Sep 1 19:51:27 2007 - - 3 Answers - 0 Comments
A. It all depends on the difference in the value of the place and the amount owed on the loan - that is what's considered your equity. Many banks will only loan up to about 80% of the equity, but a few go higher. For example, lets say you owe $50,000, but the place is worth $60,000, then you have $10,000 in equity. Take 80% of that and you have about $8,000 you could loan against. I found a great article about it on www.payoffmyloansnow.com
Answered by Bobbyhaze - Tue Sep 4 21:50:49 2007
My parents are taking out a home equity loan to lend me money to start a business, does anyone get taxed?
Q. I'm looking to open a shop and my parents offered to lend me some money to help out. They are taking out a home equity loan to lend me about $35,000 to $55,000. I agreed to pay them back. Because they are taking out a loan do they have to pay any taxes? Do I have to pay taxes on this money? I don't have any assets so I wouldn't be able to get a loan for the amounts of money I posted.
Asked by Felt B. - Sat Nov 24 19:37:34 2007 - - 3 Answers - 0 Comments
A. not unless you are going to pay them any interest on the loan!!! sure hope you make it -- hate to see your folks lose there home!!!
Answered by mister ed - Wed Nov 28 09:30:31 2007
Q. I'm looking to open a shop and my parents offered to lend me some money to help out. They are taking out a home equity loan to lend me about $35,000 to $55,000. I agreed to pay them back. Because they are taking out a loan do they have to pay any taxes? Do I have to pay taxes on this money? I don't have any assets so I wouldn't be able to get a loan for the amounts of money I posted.
Asked by Felt B. - Sat Nov 24 19:37:34 2007 - - 3 Answers - 0 Comments
A. not unless you are going to pay them any interest on the loan!!! sure hope you make it -- hate to see your folks lose there home!!!
Answered by mister ed - Wed Nov 28 09:30:31 2007
Is home equity loan on a rental property tax deductible?
Q. I own a home right now where I am still paying PMI. I also have a rental property. I would like to take a home equity loan on the rental property to pay-off some of my mortgage so I will not have to pay PMI to my first home anymore. Will the interest I pay on the home equity loan on my rental property be tax deductible?
Asked by redballoon - Tue Sep 29 20:52:59 2009 - - 7 Answers - 0 Comments
A. Get to a private and legitimate loan lender from a well known and recognized u/k based financial services lenders from (Money shark Loan Company). We offer loan at 4% interest rate. All applicants must be eligible enough to secure minimum loan of $7,000.00 to a maximum of $500,000.000.00 dollars. Note: (We only give out loans to law abiding citizens from every part of the world). Our transactions are been accompanied with full compliance to company's terms and conditions statements for loan facilitation requirements of your loan contract. We will help provide your loan transfer within 24hrs of our normal six working days of the week .Interested applicants should please contact us via email: moneysharkloan@ymail.com To meet Contact Name:… [cont.]
Answered by Tessy Anderson - Wed Sep 30 05:36:30 2009
Q. I own a home right now where I am still paying PMI. I also have a rental property. I would like to take a home equity loan on the rental property to pay-off some of my mortgage so I will not have to pay PMI to my first home anymore. Will the interest I pay on the home equity loan on my rental property be tax deductible?
Asked by redballoon - Tue Sep 29 20:52:59 2009 - - 7 Answers - 0 Comments
A. Get to a private and legitimate loan lender from a well known and recognized u/k based financial services lenders from (Money shark Loan Company). We offer loan at 4% interest rate. All applicants must be eligible enough to secure minimum loan of $7,000.00 to a maximum of $500,000.000.00 dollars. Note: (We only give out loans to law abiding citizens from every part of the world). Our transactions are been accompanied with full compliance to company's terms and conditions statements for loan facilitation requirements of your loan contract. We will help provide your loan transfer within 24hrs of our normal six working days of the week .Interested applicants should please contact us via email: moneysharkloan@ymail.com To meet Contact Name:… [cont.]
Answered by Tessy Anderson - Wed Sep 30 05:36:30 2009
where is the best place to get a home equity loan besides a bank?
Q. I have already tried at my bank and was denied. Does anyone know a good tried and true place to get a home equity loan?
Asked by Jan B - Thu Jan 17 15:47:52 2008 - - 2 Answers - 0 Comments
A. If you can be a member of a credit union, that would be a good place. You can go to finance companies as well, but the rates will be very high. Remember, if you are seeking a home equity loan to consolidate other debt, like credit cards, you are betting your house you'll pay. It's not always to use home equity for consumer expenses ("buying a blouse on the house"). Good luck to you.
Answered by athiker89 - Thu Jan 17 16:03:38 2008
Q. I have already tried at my bank and was denied. Does anyone know a good tried and true place to get a home equity loan?
Asked by Jan B - Thu Jan 17 15:47:52 2008 - - 2 Answers - 0 Comments
A. If you can be a member of a credit union, that would be a good place. You can go to finance companies as well, but the rates will be very high. Remember, if you are seeking a home equity loan to consolidate other debt, like credit cards, you are betting your house you'll pay. It's not always to use home equity for consumer expenses ("buying a blouse on the house"). Good luck to you.
Answered by athiker89 - Thu Jan 17 16:03:38 2008
How do you get a home equity loan to purchase a car?
Q. How does a home equity loan work?
Asked by Lojo - Sat Jan 17 15:28:08 2009 - - 3 Answers - 0 Comments
A. The lender looks at the amount of ownership you have in the home and projects the cost of loaning you an amount of money up to that point. Say for instance your home is worth $100,000. If you owe $20,000, then you own 80% of the value ($80,000). The lender will take your application, have it appraised, offer you a certain amount of money (including interest). Next you are offered a closing date. Then you are offered checks that you can write out in the amount you want. If its not the same lender on your primary mortgage, a deed is created giving that lender rights to your property if you default on your payments.
Answered by MissV - Sat Jan 17 15:32:35 2009
Q. How does a home equity loan work?
Asked by Lojo - Sat Jan 17 15:28:08 2009 - - 3 Answers - 0 Comments
A. The lender looks at the amount of ownership you have in the home and projects the cost of loaning you an amount of money up to that point. Say for instance your home is worth $100,000. If you owe $20,000, then you own 80% of the value ($80,000). The lender will take your application, have it appraised, offer you a certain amount of money (including interest). Next you are offered a closing date. Then you are offered checks that you can write out in the amount you want. If its not the same lender on your primary mortgage, a deed is created giving that lender rights to your property if you default on your payments.
Answered by MissV - Sat Jan 17 15:32:35 2009
How does home equity loan qualification works if you have bad credit? ?
Q. My credit isn't perfect and I want to get a home equity loan. What are the qualifications? What lenders look at if you have bad credit? How can i increase the chances of getting one, without waiting for credit to go up? Would appreciate if you can answers even one question. I am desparate for good information. Thanks!
Asked by smiling_chicka - Mon Oct 27 12:33:09 2008 - - 3 Answers - 0 Comments
A. Get in touch with a mortgage broker and explain your situation. He/she may know some lenders who will give out equity loans to people with less than perfect credit. Be prepared to pay above market interest rates however. As always, your house will have to appraise for more than you owe on the first mortgage and depending on the credit markets at the time, you may not be able to go up to 100% of appraisal.
Answered by Steve D - Mon Oct 27 12:38:09 2008
Q. My credit isn't perfect and I want to get a home equity loan. What are the qualifications? What lenders look at if you have bad credit? How can i increase the chances of getting one, without waiting for credit to go up? Would appreciate if you can answers even one question. I am desparate for good information. Thanks!
Asked by smiling_chicka - Mon Oct 27 12:33:09 2008 - - 3 Answers - 0 Comments
A. Get in touch with a mortgage broker and explain your situation. He/she may know some lenders who will give out equity loans to people with less than perfect credit. Be prepared to pay above market interest rates however. As always, your house will have to appraise for more than you owe on the first mortgage and depending on the credit markets at the time, you may not be able to go up to 100% of appraisal.
Answered by Steve D - Mon Oct 27 12:38:09 2008
How soon after Ch.7 Bankruptcy discharge can I apply for a home equity loan and get approved?
Q. I was wondering how soon I could apply for a home equity loan and get approved. My Ch. 7 Bankruptcy got discharged in June 2009 so it has been a year. I'm just wondering because I'm sure the laws keep changing. I was told the day after it gets discharged and then I was told two years after discharge. So, someone who actually knows please help?
Asked by Chem Help - Sun Jul 11 09:10:39 2010 - - 5 Answers - 0 Comments
A. In theory, the day after the discharge. In practice, a minimum of 2 years. In the current fiscal situation, 5 years.
Answered by Ghost of Zeuz - Sun Jul 11 09:23:25 2010
Q. I was wondering how soon I could apply for a home equity loan and get approved. My Ch. 7 Bankruptcy got discharged in June 2009 so it has been a year. I'm just wondering because I'm sure the laws keep changing. I was told the day after it gets discharged and then I was told two years after discharge. So, someone who actually knows please help?
Asked by Chem Help - Sun Jul 11 09:10:39 2010 - - 5 Answers - 0 Comments
A. In theory, the day after the discharge. In practice, a minimum of 2 years. In the current fiscal situation, 5 years.
Answered by Ghost of Zeuz - Sun Jul 11 09:23:25 2010
Can someone please tell me the positives & negatives of aquiring an auto equity loan?
Q. Can I refinance a current auto loan into an auto equity loan? My primary motivation for wanting an auto equity loan is so I can deduct the interests from the auto loan against my income. Serious answers only, please.
Asked by bigpoppamike21 - Fri Mar 28 03:48:50 2008 - - 1 Answers - 0 Comments
A. No... You have to hold the title free and clear to get an auto equity loan. Sorry... :(... An auto equity loan is simply a loan made using a car you own free and clear as collateral. A car with a lien on the title really isn't yours and you can't use it for collateral. You can refinance your auto loan if you find a better rate somewhere else and they're willing to do it... or if you find a finance company willing to lower your payments... If you're a homeowner, there is a way to finance a car using the home as collateral. This type of loan can have tax advantages and a better interest rate. I believe you have to own the home free and clear for that though... If that's what you're talking about and you do own a home, I'm sure someone… [cont.]
Answered by shidhet - Fri Mar 28 04:46:22 2008
Q. Can I refinance a current auto loan into an auto equity loan? My primary motivation for wanting an auto equity loan is so I can deduct the interests from the auto loan against my income. Serious answers only, please.
Asked by bigpoppamike21 - Fri Mar 28 03:48:50 2008 - - 1 Answers - 0 Comments
A. No... You have to hold the title free and clear to get an auto equity loan. Sorry... :(... An auto equity loan is simply a loan made using a car you own free and clear as collateral. A car with a lien on the title really isn't yours and you can't use it for collateral. You can refinance your auto loan if you find a better rate somewhere else and they're willing to do it... or if you find a finance company willing to lower your payments... If you're a homeowner, there is a way to finance a car using the home as collateral. This type of loan can have tax advantages and a better interest rate. I believe you have to own the home free and clear for that though... If that's what you're talking about and you do own a home, I'm sure someone… [cont.]
Answered by shidhet - Fri Mar 28 04:46:22 2008
How easy is it to get a home equity loan? I would like to use that to pay off cc debt.?
Q. Im not quite sure if I should be going to a mortgage broker to apply for one, or just go to each bank individually? Also, are there any out there that do not have a repayment penalty? I am also assuming that once the property sells the loan needs to be automatically repaid. I would also like to know how this will affect my credit score. Is it better to have an X amount on credit cards, or have that same amount on an equity loan. Thanks I already know the whole "you shouldint have gotten yourself into debt" speech. My husband and I paid for our own wedding, therefore the debt.
Asked by Anna Z - Tue Aug 14 11:08:01 2007 - - 4 Answers - 3 Comments
A. Don't rely on home loans to pay credit card debt. The primary difference between credit card debt and home equity loans is that the latter are "secured" loans. You've pledged your house as collateral against the amount you borrow. If you fall behind on your payments for any reason, you could potentially lose your home. In my experience, when people borrow against their homes to eliminate credit card debt, they typically just slide right back into it -- at the same level or worse -- within two to three years. That's because even after wiping the slate clean, they don't change their spending habits. They max out their credit cards all over again and find themselves in an even deeper hole. Is it possible to use your home equity to pay… [cont.]
Answered by snwbm - Tue Aug 14 11:16:50 2007
Q. Im not quite sure if I should be going to a mortgage broker to apply for one, or just go to each bank individually? Also, are there any out there that do not have a repayment penalty? I am also assuming that once the property sells the loan needs to be automatically repaid. I would also like to know how this will affect my credit score. Is it better to have an X amount on credit cards, or have that same amount on an equity loan. Thanks I already know the whole "you shouldint have gotten yourself into debt" speech. My husband and I paid for our own wedding, therefore the debt.
Asked by Anna Z - Tue Aug 14 11:08:01 2007 - - 4 Answers - 3 Comments
A. Don't rely on home loans to pay credit card debt. The primary difference between credit card debt and home equity loans is that the latter are "secured" loans. You've pledged your house as collateral against the amount you borrow. If you fall behind on your payments for any reason, you could potentially lose your home. In my experience, when people borrow against their homes to eliminate credit card debt, they typically just slide right back into it -- at the same level or worse -- within two to three years. That's because even after wiping the slate clean, they don't change their spending habits. They max out their credit cards all over again and find themselves in an even deeper hole. Is it possible to use your home equity to pay… [cont.]
Answered by snwbm - Tue Aug 14 11:16:50 2007
From Yahoo Answer Search: 'equity loan'
Thu Sep 9 18:24:24 2010 [ refresh local cache ]
[Hide]▼
chronicle.augusta.com
Sat, 14 Aug 2010 22:47:25 GMT+00:00
The Augusta Chronicle ... $161400 First Union Home Equity Loan Trust 1997 1 ..., Norwest Bank Minnesota Trustee, Wells Fargo Bank Minnesota National Asso... and Wells Fargo Bank ...
equity-shop.co.de
admin
Wed, 01 Sep 2010 22:26:40 GM
2002 FIFA World Cup Korea/Japan Movie (Part 4/12). at home . equity loan. interest rate. Legally Blonde: The Harvard Variations · Alex Takes Calls About Health-Care on The Alex Jones 2/2 ...
[Hide]▲
