Archive for the ‘home equity loan refinancing interest rate’ Category
Thursday, August 12th, 2010
Sorry i have asked this question before, account trouble I am asking this in a diffrent account.
About three years ago we refinance our home, and took some cash out to pay bills mainly student loans. Sounded like a good deal at that time, well it was one of those inflating rates.. we tried to refinance and found out that we owed allot more then the place was worth. We talked to a realtor and he advise that the way over inflated the value of condo. We hired on attorney and discovered they forged the value and our income. He gave them the opportunity to refinance our home at todays value or else court time, plus but the interest charges towards the equity of the home. The mortgage company did that with out any question, they told us they will "eat the difference" this was about 56k they "ate". There was no discussion of tax during this. Will we get at W-2 for this, how ugly will it be during tax time. The lawyer fee was 5k for this. We live in Ca.
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Tags: auto accident, california dui, comca, court time, credit score, david nalbandian, disability claim, Home Equity Loan, interest charges, lawyer fee, los angeles dui lawyer, monetary recovery, mortgage company, novak djokovic, personal injury case, rate hikes, realtor, social security disability, student loans, tax time, vehicle loan, wise option
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Monday, August 9th, 2010
I have about 00 in credit card debt, I was thinking of getting a end-term loan that has regular monthly payments to get it paid off sooner and a stable interest rate. My problem is two things 1. We (my husband and I) are going to refinance our home in March so I do not know whether to get this loan now or wait until after we refinance. We do no have enough equity in our home to get any kind of equity loan for the house. 2. My husband has about three credit cards that does not have any balance on them and that he has not used in years one he has never used. Does this hurt his credit should we cancel them? If so, do we do it now or after we refinance?
The loan we are looking at is an intrest only for the first 5 years which we will be selling after that and so we don’t want to refinance much more than we already owe on it maybe get about 00 to put down new flooring. The new floors is needed as we have two children w/ eczema & asthma and the old carpet is needing to be replaced. We are looking at laminate flooring throughout the house.
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Tags: allergic to dogs, amp, amplifier, asthma, asthma sufferers, bass amp, carpet, channel amp, choice awards, credit card debt, credit cards, debt settlement, eczema, equity loan, interest rate, intrest, laminate flooring, les paul, living with asthma, new england, term loan, virginia beach, youssef
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Friday, July 9th, 2010
My ex boyfriend and I purchased a home 8 years ago. We are both listed as borrowers on legal loan papers. We had worked hard on fixing it and increased its value considerably. The quality of our relationship, however, did not improve or increased and we separated. I moved out of the property a year and a half ago but remained legally responsible for the loan and he still lives in it. Although we are no longer together, we remain good friends. I am looking into purchasing a vehicle within the next four months and I am already sure that I won’t be able to qualify for an auto loan due to the financial responsibility I still share with my ex boyfriend. We have discussed refinancing the home and making him the sole responsible party for the loan and therefore, removing my name from the mortgage and its financial commitment.. Currently, he can not buy my part of the loan out and refinancing will be just to remove me from the papers without taking money from the equity to at least maintain similar monthly payments and hopefully get a better interest rate. We have agreed to sell the home later (still work to be done, not in optimal selling condition) and divide the profits once the sale goes through. If we refinance this loan to his name, how will the IRS deal with my share of the the profits? Since I will not listed as the borrower, I am afraid the IRS will read my gain as a gift and I will be taxed for it. Should I make the refinancing transaction with my ex through the courts to have a legal binding document to fall back to during tax time and for good practices sake? How should I go about this? HELP!
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Tags: 8 years, auto loan, auto loan refinancing, auto loans, borrowers, botany, cash assistance, financial commitment, financial responsibility, four months, good friends, interest rate, irs, legal binding document, loan papers, money, mortgage, msc phd, navin, profits, relationship, responsible party, sake, supreme court justices, tax time, term limits, virology, zoology
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Monday, June 21st, 2010
7. Which term refers to the decrease in value of an asset over time?
Financing
Equity
Depreciation
Inflation
8. How much of your FICO credit score is determined by your payment history?
25%
35%
45%
55%
9. How do interest rates on a secured loan usually compare to credit card rates?
Higher
Lower
About the same
There’s no consistent relationship
10. Which of the following should you definitely NOT do when you pay off a credit card?
Celebrate
Use the card again
Close the account
Remove the card from your wallet
11. What do lenders get in exchange for money when providing a secured loan?
Collateral
Credit report
Interest payments
Principal
12. Which of the following is the worst type of debt?
A home mortgage
A car loan
A car lease
Credit card debt
13. Which of the following is NOT a credit reporting agency?
Equifax
TransUnion
American Express
Experian
14. Which type of debt is the least attractive for a consumer?
Unsecured debt
Secured debt
Mortgage debt
Lease debt
15. Why do lenders often charge higher interest rates on a car loan than on a home mortgage?
The car could be stolen.
The car could be destroyed in an accident.
You could move the car and they couldnt find it.
All of the above
16. Debit cards are most similar to which of the following?
Credit cards
Charge cards
Checks
Car loans
17. If the bank decides youve defaulted on a car loan, what will they do?
Refinance the car
Repossess the car
Depreciate the car
Inflate the car
18. How much of your FICO credit score is determined by your credit mix (number and types of loans/debts)?
10%
20%
30%
40%
19. When you pay for something with a debit card, what interest do you pay?
0%
Under 3%
About 10%
From 18% to 22%
20. How much of your FICO credit score is determined by your debt-to-income ratio?
30%
35%
40%
45%
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Tags: american express, car lease, car loans, charge cards, consistent relationship, credit card debt, credit reporting agency, debit cards, equifax, experian, fico credit score, home mortgage, interest payments, loan collateral, mortgage debt, payment history, report interest, secured loan, transunion, unsecured debt
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Thursday, May 6th, 2010
ok in new york and i know the prime rate now is 7.75% is this the rate you use when refinancing or is this for home equity loans, someone told me refinancing was the libor index, i’m confuse lol , i’m thinking of refinancing, havn’t started shoping around as yet, just wondering what the current index rate for refinancing was, and i don’t mean adjustable rates … long story short i know i’m confusing lol can someone check out this website and tell me which index rate is use to refinance http://www.moneycafe.com/library/prime.htm
any help would be grealty appreciated as i now learning 
thanks
Lin
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Tags: adjustable mortgage, big picture, blog archive, debt problems, debt woes, employment index, european stocks, hdtv, home equity lines, home equity lines of credit, Home Equity Loan, home equity loans, index rate, libor index, lol, prime mortgage, prime rate, rapidshare, refinancing, safe haven, secured loans, xe com
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Tuesday, March 30th, 2010
The value of my home has declined but I would like to get a lower interest rate, especially on the home equity loan. Help.
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Tags: bank mortgage, bank of america, bank of america3, bank of montreal, charge card, cleveland mortgage, credit card deals, credit card debt, credit card debt relief, credit card debt settlement, debt consolidation loan, foreign exchange rates, heloc home equity, home equity lines, home equity lines of credit, Home Equity Loan, home equity loan rates, home improvement loans, housing sales, interest rate, interest rate calculator, ira accounts, minimum interest, mortgage bank, mortgage broker, mortgage finance, parity, spring outlook, subprime home loan, value of my home
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Sunday, February 28th, 2010
I had a setback, lost my 20yr job to bankruptcy. I made a few good choices, and survived for 18mo, until I found a new ok job. meaning I now make more then my bills, instead of using part of my saving or adding debt to my credit cards to make ends meet. So now I make 30,000, and would like to take advantage of the interest rates. I have a 6.25%. and was told by at least 5 banks or loan companies I could get 4,75% I have over 20% equity, in my home. After I start the loan process, it always falls through. Either the interest rates goes up a 1-2 points, or they want me to put down an additional money. Sometimes it is for the loan process, which is above the usual 2,000-5,000 closing costs I was exspecting. Sometimes it is to increase the down payment.I have a 120,000 house even after the housing crash, and owe 92,000. I actually was going to put 10,000 down to help lower my payments even more. But that still is not enough. The loan never happens. I have a great credit score, and make more then enough to pay my bills. So why am I not getting these refinance loans?
Income to debt is very good. I have other proterty that now only pay for themselves. I uses to make a little income. But I have no other debt, or other loans out.
Tags: bankruptcy, banks, choices, closing costs, crash, credit cards, credit score, interest rates, loan companies, loan process, loans, money, ok job, setback
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Sunday, February 7th, 2010
My Landlord made me what seems to be the deal of a lifetime. They are willing to let me assume the mortgage on their house without having to pay them for the equity gained through their payments, which I am estimating is 5-10yrs of payments. I have been doing my research and I am aware I would have to assume the loan at their current interest rate, but two questions come to mind…If I assume the loan would I qualify for the first time home owners tax credit? and How soon can I refinance the assumed loan to a lower interest rate if at all?
Tags: current interest rate, deal of a lifetime, first time home, first time home owners, landlord, mortgage, tax credit, time home owners
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Friday, January 22nd, 2010
I have been paying on my 30 fixed mortgage for 8 years now. Haven’t been late with a payment since 2006, but had a few late payments in ‘05-’06 when my wife lost her job following a move to a different state. My credit is "good" at just under 700, last time I checked (last Aug). The mortgage I currently have is a VA loan, but it is at 7%!
I only want to shorten the term to a 15 year mortgage and continue paying about the same, or even a little more monthly, but at a reasonable interest rate (~5%). I just want to build up equity faster and pay it off sooner. I’m NOT trying to reduce payments or get a consolidation loan/line of credit.
One other key factor is that I no longer live in the home. It is a rental (single family home) which I maintain very well.
Bank of America won’t budge on refinancing or renegotiating the rate. I paid 8k for the house (brand new home) and owe just under 0k. I think the house would likely appraise for 0 – 5K.
Problem is that I get all of this junk mail which appear to be "bait and switch" tactics from nefarious lenders. I want a legitimate company to give me a reasonable loan with no hassle. Is that too much to ask?
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Tags: 8 years, bait and switch, bank of america, bank of america home equity loan, brian moynihan, consolidation loan, equity loan calculator, fixed mortgage, hassle, Home Equity Loan, home equity loan calculator, house brand, how to buy a new car, interest rate, job, junk mail, last time, late payments, legitimate company, lenders, loan line, marketwat, new begining, oracle president, rheinmetall ag, single family, well bank, year mortgage
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Thursday, January 14th, 2010
Which word describes what you exchange for money when you negotiate a secured debt with a lender?
collateral
credit report
principal
interest
Which word describes the decrease in value of an asset over time?
financing
equity
leasing
depreciation
.What will a bank do if you default on a car loan?
foreclose on the car
refinance the car
repossess the car
depreciate the car
Why do lenders often charge more interest for a car loan than a home loan?
because you could crash the car
the car could be stolen during the loan
cars can be moved to from one location to another
all of the above
What can a bank do if your credit score goes down significantly and you miss a car or home loan payment?
foreclose on your home
require the car loan to be paid-in-full
increase interest rates
all of the above
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Tags: auto finance, auto loan with bad credit, auto loans after bankruptcy, bad credit unsecured personal loans, bankruptcy loans, car loan, collateral, credit loans, credit report, credit score, depreciation, easy loans, foreclose, home loan, impact credit, interest rates, leasing, lenders, loan cars, loan payment, loan questions, loan reviews, loan with bad credit, machinery prices, money, nuclear scientist, principal interest, secured debt, unsecured personal loans, yoga class
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