Posts Tagged ‘black hat’

Are home equity lines of credit or loans easier/harder to get approved of than personal loans?

Saturday, November 14th, 2009

what’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.

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what are our chances of getting a home loan?

Tuesday, September 29th, 2009

my score is in the high 500s and my husband’s is like around 600. we have never filed bankrupcy. the only reason our score is low b/c of companies who sent accounts into collection after we were told that we owed ZERO on the accts. we moved after we closed the accts and so we were never aware they had done this! :( so right now i’m trying to clear that up. the collections aren’t big ones either. my husband is enlisted marines and we are looking for a house in phx. we are looking for a house in the 80 thousand or less and would have a down payment of 11 grand. our imcome right now is solely on his end at 5000 a month. does it sound like we would qualify for something? i just want an idea of what we are getting into.

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Home Equity Loan…getting ripped off????

Monday, August 17th, 2009

Talked with a Countrywide rep about getting a ,000 equity loan (not line of credit). I was adamant that there be no or very small (0) prepayment penalty. He said it would be no problem as my credit is solid. I get the truth in lending agreement and the only thing I can find that say anyything about pre-payment is in the loan description where it states "fixed2nd equity 30 year/ 18.57%/Prepay. I am assuming this is some type of pre-payment penalty. If so the Countrywide rep is either incompetent or unethical.
Anyone have a clue if this 18/57% is the prepayment penalty? I’ve called them and left a message but have not been contaced yet. Thanks in advance.

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