I know as a homeowner you can get a loan using your home equity, but if you do not want to do that, are there any other ways of getting a loan.
Posts Tagged ‘2nd mortgage’
Can you get a loan without using home equity?
Wednesday, October 14th, 2009How does a spouse “buy out” of the marital home when you owe more than the house is worth (no equity)?
Friday, June 26th, 2009Husband & I refinanced our home 1.5 yrs ago to pay off his college loans & our joint credit card debt. We qualified for a "110% loan," leaving us with no equity. Plan was to not sell for quite some time. However, we're now divorcing.
1st mortgage = 0k, 2nd mortgage = k (0k total).
Home's current value is ~0k. Husband accepts responsibility for debt from his college loans (k). He also agrees that I get k "credit" for original down payment which came out of my personal savings. I will probably stay in the home for a few years; it's not in our best interest to sell now given the $ situation & housing market. Based on my assumptions & calculations, to "buy him out" he actually owes me k. Correct? Lawyer recommends not refinancing & leaving husband's name on mortgages so he feels more pressure to pay, or me refinancing with parents cosigning to reduce payments but then husband has no financial responsilibity to mortgage company, only to me. Recommendations??
Related ‘2nd mortgage’ sites :
| Second mortgage - Wikipedia, the free encyclopedia Second mortgages are called subordinate because, if the loan goes into default, the first mortgage gets paid off first before the second mortgage. ... en.wikipedia.org/wiki/ | |
| what does second mortgage mean? One property with 2 mortgages? A second mortgage is a mortgage that is second to the first mortgage. An example: You buy a house for $100,000 and you put $20,000 down on it and ... answers.yahoo.com/question/ | |
| second mortgage: Definition from Answers.com second mortgage n. A mortgage taken out on property that already has one mortgage, with priority in settlement of claims given to the earlier www.answers.com/topic/ | |
| what is a second mortgage? It is a second home loan that is junior to your senior mortgage, often used to provide a cash influx to the borrower or "bridge" the cost and where the senior will ... answers.yahoo.com/question/ | |
| 2nd Mortgages | Apply for 2nd Mortgages Get cash from 2nd mortgages to consolidate bills or use 2nd mortgage money for any ... This will help you figure out if a 2nd mortgage will save you the most money in the long ... www.2ndmortgages.org | |
| Second Mortgage | 2nd Mortgage Rates & Refinance Loans Request today's best second mortgage rate quotes. Find more information about refinancing 2nd mortgages and utilize the calculator to figure out your monthly payments. www.mortgageloan.com/ | |
| Second Mortgage Loans Directory of companies providing second mortgages. Links are also offered to related financial resources to assist you with the management of your finances. www.debtconsolidationloan.com/ | |
| Second mortgage A second mortgage is a secured loan that is gained against a security or a property which is already secured y a loan www.lowmortgageoffer.com/ | |
| Second Mortgage Mortgage Loan Outlet offer wholesale second mortgage rates to homeowners for fixed rate refinancing and debt consolidation. www.mortgageloanoutlet.com/ | |
| 2ndMortgage.org - 2nd Mortgage 2nd Mortgage .org - Everything you need to know about a 2nd Mortgage all in one place www.2ndmortgage.org | |