im trying to get a home equity loan or line of credit my home is paid off just making sure there for real
Archive for the ‘about home equity loans’ Category
do you know about topdot mortgage i want to make sure there good please help?
Thursday, February 11th, 2010Can you buy a house in this economy with shaky credit if you have good income?
Thursday, February 11th, 2010I am already a homeowner. However, due to divorce and finishing up grad school (PhD program) I am both in debt and have shaky credit (FICO about 550). I have already used an FHA loan for my first home and can’t rely on that because I still own it and can’t have two FHA loans. Does anyone have knowledge of other programs out there? I may too much for a low-income loan, etc. I could probably pay about 5% down payment if I took out a home equity loan against my first house.
Income is about 75K a year. Thanks!
A) I don’t live in the town where I own my other home and need housing! Owning is better than renting investment wise
B) It’s actually easier to get a house when you already own one!
What do you know about Option Arms and Altay loans, this is what's next to fail?
Thursday, February 11th, 2010First wave of sub-prime mortgage defaults over.
Second wave of mortgage defaults coming now to higher quality credit risks. These are people who have bought homes in the last five years and who have taken out home equity loans. Mortgages now going under water owe more than house is worth. This wave of defaults will take upwards of 10 to 12 months to clear.
Third wave of mortgage defaults due to begin this year and continue through 2011 are Option Arms and Altay; as payments are automatically resetting to higher rates. We saw some fail last month because of a 3% rate hike, next month is the beginning of the end as rates start to climb even higher.
Estimated – 8 million defaults in next four years.
As if this is not enough we have the next huge failure to come in the commercial real estate market, that will make the sub-prime fiasco look like kids play!
Then comes credit cards and auto loans in the end.
RESUME HELP! Can I aks for some outside assistance?
Wednesday, February 10th, 2010I have been unemployed for just about 8 months right now. My resume, when the job market was good, was a decent resume. I had some help from an associate at the last institution I worked for, however, reviewing it, I do not feel it is all that strong. Could I get some help or just another set of eyes to look at it and let me know what you think?
Also, should I list my unemployed status? I am working part time at Target while unemployed for some supplemental income, should I post that? Should I leave Linens n Things on there, even thought it was only one month?
Thank you in advance,
–A sad and frustrated banker.
Adam Armstrong
225 Stark St. NE.,
Salem, OR. 97303
503.856.6681
adam.armstrong@live.com
Objective:
-I am seeking a position that will further my career, as well as assist in the growth of the company and my fellow associates.
Profile:
-Nearly four years experience in management.
-Exceptional training in communications.
-Goal-oriented individual with strong leadership capabilities.
-Organized, highly motivated, and detail-directed problem solver.
-Proven ability to work in unison with staff, volunteers, and costumers.
-Strong sales leader.
Education:
-Currently attending the University of Phoenix, majoring in Business Management.
Relevant Work & Accomplishments
-Management/Supervision
-Mentor (trainer) for new associates.
-Annual budgeting.
-Consistently able to help the branch meet the goals set (20% increase from previous year).
-Directed recruitment and retention of supervisors and staff of nine employees.
-Training, supervising, evaluating and coaching improvement management skills.
Relevant Work Experience
Linens n Things, Salem, OR.
Nov. 25th, 2008
Dec. 23rd, 2008
Department Manager, HouseWares,
-Sold fixtures, gave quotes, and helped in the removal of fixtures.
- Assisted in the liquidation of all product.
-Answered phones, and questions on the phones.
-Recovered HouseWares and assisted in recovery of other areas in the store.
-Double verified deposits.
-Ran transactions on cash registers.
-Recovered shopping carts.
-Assisted in all aspects of customer service.
-Assisted associates when needed.
-Stated employment with the understanding that the position was temporary due the liquidation.
Marion and Polk Schools CU.
Assistant Branch Manager II,
June 14th, 2007
Aug. 20th, 2008
Salem, OR.
-Provide exception service to staff and customers alike.
-Home Equity and Mortgage loans, as primary lending duties. Assisting in auto, boat, RV, personal and Visa loans as well.
-Involvement with the West Salem Rotary and the West Salem Business Association.
-Community involvement, primarily with the West Salem High School, in our Titan Branch. We currently have three interns working between the two branches.
-Branch support in all aspects needed. Assisting other loan officers, acting as a teller, handling member discrepancies and teller cash/check outages.
-Meet monthly referral goals.
-Handle multiple operating systems at one time.
-Met the following lending goals monthly: 0,000.00 home equity loans. Close at least one mortgage.
-Make sure the branch meets its control policy and passes all audits, according to company policy and State/Federal guidelines.
-I would handle new and existing IRAs and Certificate deposits.
-Coaching the staff monthly or as needed by individual.
-Marketing and new Relationship marketing quarterly with our Relationship Manager.
Umpqua Bank.
Nov. 1st 2004
June 9th, 2007
Lead Associate/Mentor
-Lending in the following areas: auto, RV, home equity, Visa.
-Opening and maintain new accounts, IRAs and time deposits.
-I would assist in branch goals and the overall flow of the branch.
-Open, close and assist members in safe deposit boxes.
-Weekly we had teleconferences where we would discuss our success, and areas we needed to improve in.
-Balancing the vault, coin machine, and teller drawer.
-Over draft reports; calling and following up with clients.
-Yearly we had to volunteer 40 hours to a local charitable organization.
-As a mentor my duties were to train the new hire in the Umpqua culture. I would train them on
1)Service
2)Products
3)Sales
-I would also, on occasion, assist in Train the Trainer classes.
Can’t refinance without a job? Nor home equity loan? Divorced? Its complicated.?
Friday, February 5th, 2010I have a divorce settlement that left me with my house and my exwife relinquished the home. I have a tenant who pays my mortgage and everything is fine. Its just that when i want to make a move like
refinance, I am pretty sure i cant because i dont have a job (unemployed). Also i would like to get a home equity small loan but i feel like again it will be the same thing. Should it be this difficult for a home that is in good standing, i have great credit too. One of my problems is that the divorce doesnt take wife off of note. I even did a quit claim but still i am told i have to refinance to get her off the loan. But i cant refinance cause im not working…..do i got the vicious circle right or should i try a different banker?
Can you use additional collateral for a home equity loan?
Wednesday, January 13th, 2010In other words, if your house doesn’t qualify for the home equity loan you want, can you use a bank CD or something like that as additional collateral to make it qualify?
The purpose of the loan would be to give the appearance that you’re mortgaged to the hilt. That gives you two advantages when selling the house. First, you can use it to convince the buyer that you can’t lower the price any more, because it wouldn’t be enough to pay off your mortgage and home equity loan. Second, when the buyer gets the papers at closing time, they will see how much cash you got out of the transaction, and if they become disappointed that anything in the house is not what they expected, they might be more inclined to sue you if they can see in their papers that you got a large amount of cash out of the transaction.
Does Bankruptcy chapter 7 allow me not to repay the home equity loan if there is no equity in it, but I keep i?
Tuesday, January 12th, 2010Good day!
I would like to ask a question, which may help me to determine whatever to file a bankruptcy or not to.
I do have a house and pay mortgage (current). I am going to keep a house if file for a bankruptcy.
On the other hand I do have an equity loan (secured by my house) from the lener other than my mortgage lender.
My question is – can I claim equity loan (0,000) as unsecured – and so dischargable debt as there is no equity in my home and appraisal only showing about 250,000 value , but mortgage is 500,000.
What is the normal/max that a lender will lend on a home equity loan if?
Sunday, January 10th, 2010The house appraises for 111,000. I am looking to add on and other remodel jobs.
Oh yeah, forgot to add that DUH house is paid for free and clear!
Thanks to every one that was smart enough to assume that is what I meant.
Unpaid Home Equity loan, can I be sued without having been legally served and no longer live in the USA?
Monday, December 21st, 2009I left 1 yr., ago, due to a medical condition and The residence I had was foreclosed 3/07. My credit with Equafax shows it OK as to the Repo. Experian is still taking derogs on my history.
If I take out a home equity loan to pay off a HELOC (100% of which was used to buy the same home), can I ..?
Friday, December 4th, 2009get interest deduction beyond the first 100k.
Details:
500k home: 250k down payment, 250k HELOC for the rest.
I want to take out a home equity loan to pay off the HELOC so I can fix my rate.
Is the home equity loan tax deductible in its entirety (i know the first 100k is).