Posts tagged equity
Q&A: IF I’M CURRENT ON MY MORTGAGE BUT AM READY TO DEFAULT ON MY HOME EQUITY LOAN,WHAT WILL HAPPEN TO MY HOME?
Jul 7th
Question by jean d:
If I am current on my mortgage but am ready to default on my home equity loan,what will happen to my home?
I currently owe 60000.00 on my original mortgage loan and 25000.00 on my home equity loan the 2 are from different financial institutions.My home was used of course as collateral for the equity loan,what happens to my home if im current on the mortgage but maybe defaulting soon on the equity loan???
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IS A HOME EQUITY LOAN WORTH GETTING TO PAY OFF CREDIT CARDS?
Jul 5th
Question by plowboy:
Is a Home Equity loan worth getting to pay off credit cards?
I have some credit card debt on a few diffrent cards. I am getting exhausted of trying to keep track of when they are due and paying the high rates. I have owned my home for over a year and a half, and I was looking at and Home Equity Loan, which it appears the APR is at 7% with most banks. Would it be worth getting to pay off my credit cards? And, If I wanted to sell my home, would there be any probelm with having the loan?
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Q&A: DO YOU NEED TO HAVE MORE THAN 20% HOME EQUITY TO BORROW AGAINST FOR A HOME EQUITY LOAN?
Jul 2nd
Question by cortney r:
Do you need to have more than 20% home equity to borrow against for a home equity loan?
A friend just asked me to borrow money to pay her mortgage this month- she plans to take out a home equity loan to pay me back. She has only owned her home for two years, and I assume she would have only put 20% down. Will the bank grant her to borrow against that 20% or would it only be any appreciation in excess.
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IS IT SMART TO USE A HOME EQUITY LOAN TO PAY OFF CAR LOANS, AND A LINE OF CREDIT?
Jul 2nd
Question by motormank:
Is it smart to use a home equity loan to pay off automobile loans, and a line of credit?
My husband and I need to lower our monthly payments. We have no debt except a line of credit for $ 60,000 with the payment of $ 410 and two automobile loans both adding up to about $ 25,000 and the combined payment of $ 1050/mo. So, we are spending about $ 1400/month for these 3 things. If we got a loan for $ 110,000 and payed all these off, our payment at 6.6% would be around $ 700/month. Of course I would always pay more than that per month which would go to principle. Why is not this a good thing to do? I realize that getting a new automobile would add to our payments once again. So, that would not be smart. Other than that, is this a smart thing to do? It seems like it is, but then why do not more people do this?
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CAN DEFAULT ON A HOME EQUITY LOAN CAUSE FORECLOSURE?
Jul 1st
Question by Cratchet:
Can default on a home equity loan cause foreclosure?
I was coerced into taking a home equity loan along with a mortgage refinance four years ago. The max on the loan was 15,000, of which we spent around 9,000. Since the time we did this, the monthly payments have continued to climb because of the high interest rate, and late fees. The loan has been maxed out for several months. In February we turned the account over to a credit counseling bureau we are using. This day I received a summons that will account for almost 20,000. I have never had a late mortgage payment; can I end up losing my home because of the home equity loan?
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IF YOU FILED FOR BANKRUPTCY 8 YEARS AGO CAN YOU TAKE OUT A HOME EQUITY LOAN?
Jun 30th
Question by LF:
If you filed for bankruptcy 8 years ago can you take out a home equity loan?
Can you take out a home equity loan with your bank
We’ve had a debit card with this bank during the past 8 years
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Q&A: IS THERE A RULE OF THUMB FOR HOW LONG YOU HAVE TO WAIT TO TAKE OUT A HOME EQUITY LOAN?
Jun 26th
Question by stoby8:
Is there a rule of thumb for how long you have to wait to take out a home equity loan?
We just settled on our home last week and would like to do some fixes on the house. We do not have the cash, but would like to take out a home equity loan, but were not sure if there was a “grace period” or something similar before you can do that.
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Q&A: CAN I GET A HOME EQUITY LOAN AFTER I CLOSE ON A HOUSE?
Jun 24th
Question by Staten Island Ferry suspended:
Can I get a home equity loan after I close on a house?
There is this home that is worth $ 225.000, the owner stated he will sell the home for $ 145,000 because the bank is trying to forclose on his house. well after I purchase the home for 145,000 within 30 days can I get a home equity loan for $ 25,000?? or do I have to wait until I own a home for a number of years?
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Q&A: WILL IT BE DIFFICULT FOR ME TO GET A HOME EQUITY LOAN?
Jun 22nd
Question by oh crap.:
Will it be difficult for me to get a home equity loan?
hi, I am thinking about getting a home equity loan to pay for my daughter tuition for school. My credit is not very good but, I do have over 75,000 in equity. I am thinking about applying for 25k and was wondering if it would be difficult. I am applying for the loan through the same bank that holds my mortgage, which I have never been late on. thanks!
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CAN I SKIP MY LAST MORTAGE PAYMENT AND USE IT TO PAY $1000 OFF OF MY HOME EQUITY LOAN BEFORE CLOSING?
Jun 20th
Question by Tireless:
Can I skip my last mortage payment and use it to pay 00 off of my home equity loan before closing?
I have a Mortgage payment due Novemeber 1. The place is going to be sold Novemebr 14. I was going to take the money I would use to pay the mortage and take $ 1000 off of the home equity loan (Principal) so it is that much less that I have to pay out of pocket at closing. Is this smart or dumb?
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