My house was auctioned off on August 2, 2010. But I have a home equity line of credit that I still owe on, but now it is unsecured because the house has been foreclosed on. Can I file bankruptcy on that dept?
Posts Tagged ‘credit card debt’
what happens with home equity loans and lines of credit after your house is foreclosed on?
Friday, September 3rd, 2010Should I consolidate my credit card debt & close old card accounts before or after refinancing my home?
Monday, August 9th, 2010I 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.
I can get a home equity loan. This would cover my credit card debt of 15,000. Tax break?
Sunday, July 18th, 2010If I take out a home equity loan at 8% to cover my 15k credit card debt at 13.99%. I will save in interest. But will I also get to write off a portion of the 8% come tax time because it involved loan related to my condo? Thanks
10 points Please, please help me!<3?
Monday, June 21st, 20107. 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%
Get out of debt?
Thursday, May 27th, 2010I have some debt (credit cards & car loans) that I need to pay off. I own my own home, have a lot of equity in home. What is the smartest way to get out of debt and get some cash in my pocket for a rainy day. Should I 1) refinance my current mortgage, 2) get a home equity loan 3) what are the pros and cons of having an interest only mortgage.
Thanks in advance!!
I want to get a Heloc or Home Equity loan..through a Broker?
Sunday, May 23rd, 2010So I recently applied for a heloc or equity which ever I could qualify for, but neither did.
I applied with WElls FArgo, who are extremely strict!
Thing is I am just on the deed of the house, I think thats why It got denied. So this is my parents house, and they said I could borrow 70k from equity, but they have to apply with me right?
I currently make 3,000/mnth, FIco of 715, with only car payment, and credit card that are being paid off. I really want to get this loan to invest in a property paid in cash! My mom thinks they wont qualify because my mom only makes about 1,200/month, same for my dad.
Will we qualify perhaps through a broker??
Balance on house is 200k. Value is 350k.
Wells fargo is farthest the strictest. I have seen other people with incomes of 500 a month and still got a heloc. Im sure some where I can get it.
Why did I not qualify for the HELOC or Home equity loan?
Saturday, May 8th, 2010So I applied with Wells Fargo bank, and well knowing that this bank is very strict, I went ahead and applied for which ever I could qualify for. Heres a little about what they saw: I had a fico of 688 they said was average.
I work as a tutor making 2,500/month
financing a 17k car
credit card balance: 5,600
credit card balance: 500.
credit card balance: 500.
Student loans that are still deffered. Thats it. I dont pay rent or own a house yet, but I was trying to borrow some money from parents equity. Why did I not qualify? One thing I am only on the deed of house, not on mortgage. And I applied by my self. I asked another representative, and he said that the primary loan person had to apply with me?
I want to apply again with a different bank or maybe go through a broker I know, meanwhile I building my credit back to at least 740
would i be granted a home equity loan even tho i file bankrupsy in feb.2005.?
Monday, May 3rd, 2010I,do not have a morgage loan and my credit card debt is only 1,900. I would like the equity loan for only 10,000.my coop is worth 170 thousand,but because of the bankrupsy i don,t know if i,will get approve.
What kind of home loan do I get to receive extra money on my current home?
Saturday, May 1st, 2010I own a house and have remodeled it but I don’t want to sell it, I want to purchase another property but I was told I could get another loan using my house for collateral. Would that be considered a home equity loan or just refinancing my current home? It’s been at least a year now since I’ve bought the house so I know im eligible to refinance and the remaining balance is 105k the new appraisal of the house is 178k. I’d like to get a fairly large decent amount so I can buy another property, could anyone point me in the right way or teach me a thing or two? 
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