Is getting Home equity line of credit possible if home have two owner?

March 12th, 2010

There are two owner of a house. Mortgage is under one and other owner wants to get home equity line of credit. Home value right now will be at lease $ 800,000 & current mortgage balance is about $ 200,000. It is Newyork city. Is that possible to get home equity line of credit? How much it could be?
Both persons name on deed but mortgage has one’s name.

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Can my home equity line lender force me to sell (or into foreclosure) if I own almost 70% of my home?

March 12th, 2010

We are not in foreclosure but this bank has had trouble. I’m trying to understand our position should they demand full payment of the equity line.

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First time homebuyer with zero down?

March 10th, 2010

Here’s my situation: Looking to buy a home. I have little (K max) to Zero down (preferably zero). I have NO DEBT. ZERO. I owe nothing to anyone. My credit cards have a zero balance, my car is paid for. ZERO DEBT. I personally make K a year. I will have someone living with me who makes K a year. I have been employed steadily for 15 years (I’m 33) and have rented the same apt for the duration of that time never having been late even once on the rent. I’m employable in multiple fields so if my current job goes south I wouldn’t have trouble finding another job. I had a couple collections issues in my early 20’s for medical bills (One of which I disputed) but have since had two loans (both paid off early) and a few credit cards (all open and with no balances and again, never been late or had collections issues). I’ve got a 401k and life insurance with equity I can borrow from. Anyone have any idea how likely it is for me to get a home loan with zero down? Or a home loan at all? I’d be looking for possibly up to 0K. If you think I could get approved anyone know what a good lender might be? Lending Tree? BoA? US Bank? Any advice appreciated.

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What is the process of getting a home equity loan? Risks? Best reasons to get one?

March 10th, 2010

Can i get a home equity loan? And what is the process?

March 10th, 2010

I heard that there are closing costs on home equity loans. Is this the case? Also i just bought my house in September and was told i dont have any equity in my house. Though houses of same model and square feet are selling for more.

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What happens if I cant pay judgement?

March 10th, 2010

Need advice from lawyer/person with experience – I live in Texas where they cannot garish wages. I am married, have 1 daughter and another on the way and make just enough to get by. My wife does not work. We have 30,000 in student loans, 10-15 thousand in credit debts, 25,000 for our 2 cars and over 80,000 on our house. We have literally 0 equity in any of these because our interest rates were so high when we got the house/cars. I am currently being sued by a plumber that we couldn’t afford to pay after he completed the job and it is the first of several probably to come as we cannot afford to pay our credit cards anymore because we don’t want to be late on mortgage and cars. When the court claims a judgment on me, what happens n

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In Texas can I get an equity loan on my primary residence, if I have an equity loan on my rental property?

March 8th, 2010

As I understand it in the state of Texas home owners are only allowed one home equity loan. I have two separate properties, one is my primary residence and one a rental property….some years ago I had my rental property refinanced and in the process received a small amount of the equity. I am now told that I cannot get an equity loan on my primary residence because of the situation with my rental property.

It is a buyer's market – I understand that. Home equity loans, how do they work?

March 8th, 2010

If I purchase a home for 0,000, but it is appraised for 0,000, will I have automatic built-in equity that I can use to consolidate ,000 in school loans and credit card debt? Or, will I still have to pay down some of the P&I in my mortgage before I can use the home equity? That is the situation I find myself in right now. Thank you!

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Can I get a construction loan for remodel on a recently purchased short-sale?

March 4th, 2010

Here is the deal, I bought a home last month for 50,000 less than the appraised value. Turns out the home needs more repairs than I was expecting to make it livable. So, we are thinking of how we can finance the fixes. We cannot refinance to the appraised value for at least 6 months, so our equity is minimal (we put 5% down). So, I thought about a construction loan. Can this be done after the home has already been purchased? Any thoughts?

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