I am in need of a Home Equity Loan. Does it make sense to approach my current mortgage lender? Or my bank? or a different third party altogether? Any advice out there is appreciated.
My credit is not great and I need to know who would be most flexible with me.
Posts Tagged ‘bad credit mortgage’
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)
Are home equity lines of credit or loans easier/harder to get approved of than personal loans?
Saturday, November 14th, 2009what’s the difference between the two, and which ones are easier/harder to be approved of etc?
My partner is getting one or the other, which I’m strongly urging because he owes me alot of money , due to health problems and house problems I had to help him with, and I personally want him to go with whatever’s more flexible, and has a longer time frame, so it will make it easier on him on payments.
He got accepted left and right when he applied for personal loans last year but turned them all down because he didn’t need them yet, and this year he’s starting again but is going for the home equity, but already got one rejection, because he already has some debt.
I personally don’t know what to tell him, so someone educate me!
thanks.
Can I take out a home equity loan, and can I only pay interest on it?
Thursday, November 12th, 2009My husband and I bought our home 10 years ago for 0,000. It is currently valued at 0,000, and we have payed our mortgage down to 0,000. We also have excellent credit. We would like to take some money out to do home improvements and to help pay for our son’s tuition. We would like to take out about 30 to 40 thousand dollars. Do we have enough equity in our house to do this? Also, can we get a home equity loan that only requires us to pay interest on the loan while we are living in the house and pay the loan back when we sell the house. We are planning on selling the house in 5 to 7 years. Finally, can anyone suggest a good lender?
Home Equity Line Foreclosure?
Saturday, September 26th, 2009I have a question regarding my Home Equity Line and Foreclosure. If my home is foreclosed what happens to my home equity line? Am I still obligated to pay the home equity line? Or is it part of losing the home?
I’ve heard that if the mortgage loan and home equity line are together with the same bank, then the whole thing is foreclosed. Is this correct? Can someone please explain?
Need to know some terms?
Thursday, September 24th, 2009Can someone tell me in a bit detail what are Line of credit, Home equity line of credit, Home equity loan, equipment rental, equipment leases, capital leases, Bank term loan,
bank time deposit, bank term deposit?
examples are the best!
can i finance a car like this? with bad credit? but with…..?
Sunday, September 20th, 2009ok so i wanna finance a car but we got bad credit and i wanted to know if we got a home equity loan for about 3000$ with bad credit could we finance a like 9000$ car with 3000$ down for like 200-300$ a month? with bad credit or the down payment doesn’t matter you need credit to finance? cause we got those bad credit no problem we will finance you places but they want 3000$ down and its alot of interest im sure so we wanted to know if we could do it someplace else???
also a credit union my grandfather is with a credit union has bad credit though could he finance though them like i said he has a account?
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