I am refinancing my home this month from a 30 year 7.25 to 15 year 4.34 saving ,000 in interest. Problem is that any equity I had in the 3 years I’ve been paying, I’ll lose when I tie closing costs back in. My wife and I have excellent credit and no credit card debt (only student loan, home mortgage, and 2 car payments). Looking for about ,000. Should I go to a bank or put it on a couple cards??
Posts Tagged ‘3 years’
What kind of options do I have to get a loan to fix my home but don't have any equity in the home?
Saturday, February 13th, 2010Recommend buying a vehicle half loan, half equity line (HELOC)?
Sunday, December 27th, 2009Just wondering what some financial people might recommend. Our family just got a little bit bigger (in-laws moved in with us) & our current vehicles only hold 5 max (we are now 6 in the household). We’re looking into vans & the one we want is offering 36 months 0% financing…despite that great interest rate, the monthly payment will still be EXCRUCIATINGLY high…after a little brainstorming, was wondering if it would be wise to paydown the financable balance at financing with a HELOC check to get it to something reasonable, pay off that balance in 3 years, then pay toward the HELOC? Anyone ever do this? I think this is better then putting the ENTIRE vehicle on the HELOC (something we pondered as well & something some of our friends do w/o a second thought).
Home Equity Loans FAQ
Monday, December 14th, 2009Can home equity loan travel to foreclosure?
When my house was worth something a few years ago I paid of an existing mortgage beside a 30year fixed home equity loan. I also took out a small home equity loan for improvements. I had a ton of equity but now i don’t. House have been on market for 3 years since getting…
Can i achieve a home equity loan from a property located contained by PR, realm of US, while living surrounded by US?
I moved from PR to FL, and would like to consolidate debts. unless you owe nothing on the house within PR, the answer is likely “no”. you probably can re-finance it, paying off the existing loan. Be…
Can I achieve a home equity loan on in somebody`s company owned property?
My wife and I are separated, she is living in the house. Does she have to agree and co-sign for the loan? No you can not. She would enjoy to agree and co-sign on the loan and she would be entitled to 1/2 the loan equity. If your…
Can I achieve a home equity loan?
I own my fathers home outright, no mortgage, just the property tariff bill, I need about 20,000 for renevations and to win caught up on a few other bills. The house was closing assessed to be worth $275,000. I would like to use bank of america but I hold on to reading…
Can i achieve home equity loan minus human being on mortgage? but I’m on work
going through divorce and she killed me with debt.she make more than me has the house and the kids and i have the debt. she is jerk me around setleing with me. if the divorce is not final then within most states no way unless…
Can I acquire a home equity loan or do I hold to re-do my mortgage?
I bought my home 4 years ago, and it appraised at $101,000. I bought it through a mortgage company, on a 30 year loan. Now that I can afford to pay a little more I’d close to to redo my loan, and add…
Can I apply for home equity loan while house is tabled for Dutch auction?
In MD area, is it possible to apply for home equity loan while house is listed for Dutch auction? I am trying to purchase a land/lot, but need home equity loan for downpayment. I know loan guidelines have be pretty tight recently. If my…
Can I appropriate out a home equity loan right after the purchase if I bought a 170000 house for 145000?
wondering about taking out a home equity loan on the remaining value of the house to consolidate the rest of my bills. Is this clever? Yes but you will need to have terrifically good credit, and be able to debt…
Can I borrow $50000? Have some home equity and a business but unqualified to take traditional loan. Looking for?
money for business expansion. Contact me a buylife_1(a)yahoo.com if serious. This could be as an investment-would pay a decent return-can provide info. www.lendingtree.com if you enjoy equity in your home, you can get 125% of homes expediency. They were running an ad…
Can i bring a home equity loan even though i dont own my home?
im still financing my home. mortgage. but i want to get an equity loan even though i dont own it yet. is this possible? if so, do i capture the loan amount value of my home or is there a sunhat limit. say…100,000? If you have…
Can i bring a home equity loan on a home i purely bought that i be able equity contained by it?
we are buying a home from my mother. she is gifting us the equity in the home. can we get an equity loan at duplicate time as we get our home loan or do we have to dally and how…
Can I bring a Home Equity Loan on a Rental Property?
You can have it done but the fees will be huge. You will probably pay between 3 and 4 points which is a significant amount. It is harder, regulations are more difficult but it can be done. Source(s): Certified Real Estate Appraiser What? Not if your…
Can i buy a tentative home on home equity loan?
my existing house valued three hundred and fifty dollars and i still need to pay 80,000 towards my mortgage immediately i am thinking to to take two hundred and fifty thousand dollars equity on my house and paid stale mortgage and i have a wish to buy a home…
Can I capture a home equity loan near Bad Credit. i OWN My home and its fully remunerated for?
I went to the bank today and tried to procure a home equity loan but they turned me down because I had bad credit. I own a stable job that I worked at for over 5 years, I own my…
Can I catch a home equity loan next to a first mortgage?
I am buying my first home with an FHA loan. The mortgage company I am using doesn’t do a 203K loan and I would like to use money to develop the house. I was approved for $40,000 more than purchase price and only want $20K max. …
Can I claim the home equity loan interest on my taxes if the form have my husbands SSN number?
NO-why aren’t you filing jointly? You claim the amount you compensated on your return. Check the schedule A instructions for any additonal notations. (Be advised, if you itemize, your husband must also itemize.)
Can I compensate past its sell-by date a home equity loan near my credit card ( lower interest rates!)+ how do I do it?
I have an offer from a credit card co near a low interest rate, 2% lower than my home equity loan interest. I would love to get rid of the horrible 8.75% home loan interest on $12,000….
Can i construct the payments on my dad’s home equity loan?
My father took out a home equity loan a few years ago to help me out financially. I make the payments on his home equity loan directly to my father’s sandbank. Is this legal, or does my father need to be the one signing the checks? they don’t really vigilance…
Can i database collapse on my home equity loan, but not my mortgage loan?
I doubt it. Husband owns a mortgage co. If you report bankruptcy on a home equity, they could take your house. Don’t do it. Good luck. Bankruptcy (7, 11, or 13) will not disturb the legal status of a properly documented mortgage….
Can I discount interest on more than $100,000 on a home equity loan?
the money was used to build another house (occupied by my elderly parents) located next to my primary residence on indistinguishable 10 acres of land. Can this qualify as a “home or land improvement” and allow me to write stale the full interest amount? To deduct interest…
Can I draw from a home equity loan 2 years after liquidation?
I had a business failure that cause a personal chapter 7 bankruptcy which was discharged within April of 2007. I currently have a tax lien on the home due to some IRS penalty, interest and taxes owed from the business. I’d like to get a home equity loan to…
Can i filch out a home equity loan against my home near a co-signer?
i want to take out 30,000 home equity loan but i am in chapter 13 collapse, can i get someone that has pretty well brought-up credit to co-sign for me If you weren’t contained by bankruptcy, I would say yes unsurprisingly. It depends upon each individual bank…
Can I gain a home equity loan next to no seasoning requirements beside bleak credit?
We just purchased a home and want to consolidate some bills to create a better cash flow. The problem is we’ve solitary been in the house for two months. I’m man told that most companies require 6 months to 12 months seasoning to get…
Can I get hold of a debt consolidation loan as a home loan but next to no equity?
I am trying to consolidate my credit card debt because the payments are too high each month. If I could catch a home loan this would be perfect. I am having difficulty making adjectives the payments and I don’t want to…
Can I get hold of a Home Equity Loan lacking a W2 and single paystubs?
It depends on your mound. Some banks require a home appraisal too. Look… not matter what anyone says you’ll never particular until you try. Talk to a mortgage broker. They have many sources of funds. Not going to happen right…
Can I get hold of a home equity loan on a property I own surrounded by Canada, if I’m an American citizen?
I own, (thru an inheritance) a cottage/home in Ontario,Canada. Where can I go to procure a home equity loan on it? I own the property out right and only pay twelve-monthly taxes on it. Althought the property is in…
Can I get hold of a Home Equity Loan to purchase a rental property?
So, that way I could use some money to rehab around the property rather than getting a mortgage loan. The rental properties are usually range $30K to $50K. Thanks! done all the time I am a mortgage banker within TN & KY . …
Can I go and get a home equity loan if I already enjoy a second mortgage?
Get valuable tips on mortgage from http://moneymentor.cashmatter.info . It’s a exceptionally useful website. Generally not short paying off the second. No one wants to own the third lien position on the house, especially if there isn’t a ton of equity. Most likely you…
Can I go and get a home equity loan?
Can I get a home equity loan if I have fruitless credit. Please help. I need to know what trusted companies I can contact for this type of loan. Thanks. i am loan officer. tell me more about your situation and i’ll agree to you know if this is the…
Can I grasp a home equity loan near a credit rack up of 560?
probably not…right now the sub market is discouraging…..right now a credit score of 600 is needed for most home loans…… no and you should not try because you will not be able to afford the rate that they will charge!! work on getting you…
More Home Equity Loans questions please visit : RefinanceFreeFAQ.com
Should I try to hold on to my home or let it go into forclosure?
Saturday, November 14th, 2009We owe 5,000 on our house and it’s now worth about 0,000. We have an ARM that is going to reset in Jan 09. We definitely can’t afford the ,000 jump in payment. Called the mortgage company (Ocwen) and they said we do not qualify for the government’s freeze on interest rates program because our ARM was for 3 years instead of 2, but they said call back closer to the time the loan is set to reset and they’ll work with me. Somehow I doubt it and I don’t want to pay my ,100 property tax bill on the house if I’m just going to lose it in the end. Plus, I’m thinking about all the money we could save every month if we let it go and just rented a house. We’d save about ,000 a month on rent and ,000 a year on property taxes. Why hold on to a house that costs too much and has no equity? Not to mention it’s an interest only loan, so paying it off will NEVER happen. Please give me your advise. Is foreclosure really so bad? My credit score is already low (610)
Can You file for bankruptcy but keep your home and car in the UK?
Saturday, October 10th, 2009I have debts totalling nearly 25,000 and i think my only hope out of this as i have been struggling along for 9 months now is to file for bankruptcy. I work from home self employed and need my car for my business too so need to be sure i can keep both of these things or i would be out of a job too. I have 25 years left on the mortgage but because of house price falls there is now no equity in the house, i also have the car on finance and still have 3 years left of this.
Do I have to make interest payment on home equity line of credit? ?
Wednesday, October 7th, 2009Hey!!!
What if I borrow ,000 from home equity line of credit and dont pay anything for 3 years. Can I do that? Or there must be some minimum interest payments every month / year, etc?
Good FICO, DTI High, Good Equity! Can I Refi a Cash Out?
Wednesday, October 7th, 2009We are in dire straights. We have lived in our home in Charlotte area 15 years. Home is financed with Chase. Never had a late payment, not even 1 day day late on home or the Home Equity Loan we have.
Took out a Home Equity Loan 3 years ago. Never a late payment there either.
All total our bills are killing us. Want to Refi. Balance on home is K and Home Equity Loan balance is K.
Husband lost job, just got rehired on another contract but want start his new job till next month. He is a government contactor so makes good money but when the contract stopped the money dried up quickly.
His credit score however is absolutely no help, in the 500’s.
My FICO scores are 691 Equifax, 726 Experion, and 686 Trans Union.
Problem is I only gross 33K or so a year.
We applied online for a refi to payoff bills but were told my husband is no help on the loan because of his FICO scores.
With the DTI I am at 90% so I cannot get approved to refi.
The home is worth about 5,000. We have about ,000 in Credit Card Bills and Loans we want to pay off.
Can anyone out there give us an idea of how to refi, payoff the debt and get a loan.
What about going FHA with my husband as the co-x since he has the low FICO but has very good income to lower the DTI ratio? He makes about ,000 per year and it will be Federal Taxes tax-free as he will be working overseas for a year.
We really need some professional advice.
do you think we qualify for a construction loan, credit score wise? Please help!?
Monday, September 21st, 2009My husband and I have credit scores of 560 & 580 currently but we have a best buy credit card that shows that we have not made a payment in 9 months on our credit. I have talked to Best buy and they are in the process of fixing it because we had made every payment on time. Once (if) that is ever fixed then our credit should go up. We have 2 credit cards and have a good payment history with them. We currently have a home mortgage and within the last 3 years that we have had the home we have been late 3 times, several months apart. We also have a car loan with a good payment history as well. We make about ,000.00 a year combined and we have our home loan of 5,000.00 and car of ,000.00 and two credit cards with a combined balance of ,000.00. I am currently building my own benefits company from home and I am making a good income on the side of my 40 hr job so that income is not included in the ,000.00 a year yet.
When we purchased our home three years ago, we had zero credit. The mortgage company supplemented our credit so we could get a home, so within the last three years is where our credit is coming from. With that being said, we dont have a very long history of credit and our scores are not very high. We are looking to build a home within the next two years, we would LOVE to have it build in the Spring/Summer of 09 but we dont know if this is feasible and we dont want to get our hopes up.
We are not expecting a large profit out of our home. We have a great started home in a good location. We are going to be building a 2000 sq ft home on 5 acres. The land is my mother in laws and she has 15 acres and we are getting 5 of them. We have paid her for the land but have not transferred the deed yet as we need to get it surveyed. The land where we are going to build is selling for anywhere from 20-25K an acre, so clearly we have equity in the land.
So my questions are this: Do you think we would qualify for a construction loan?
If not, how can we improve our credit quickly besides making more and extra payments on our monthly bills?
What credit score do you think that banks are looking for with a construction loan?
THANKS IN ADVANCE!!
Jessica
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