Posts Tagged ‘credit debt’
Sunday, November 15th, 2009
We would like to purchase a used car. Are we better to get a car loan or approach our bank to see if we can get a home equity loan?
I think most car loans have a higher interest rate, however you pay it off quicker. Where as the home equity loan would be cheaper/lower monthly repayments but for many more years. Am just not sure which would be better for both the short and long term?!
Oh, and just in case anyone is a finance whizz and this makes a difference….the car purchase is mainy for business, and the property we’d get the equity loan on could either be our rental property or our place of residence (however we used the equity on the rental to help cover the mortgage of new place of residence at the start of this year). See why we are confused!?! lol
Your experience/advice appreciated. Thx!
We have a GOOD credit history.
Thank you to the genuine answers. I think its good advice to keep it seperate and will look into this.
To others – please do not use this as an opportunity to promote your credit businesses (or scams?). We always choose and prefer to use a reliable lender. This was NOT a question about where to get finance….just type of loan was better.
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Tags: air filter, blog archive, car loan, car loans, car purchase, carseat, credit debt, credit history, debt consolidation loan, finance, fixed rate personal loan, fog lights, gearbox, gearbox repairs, good advice, Home Equity Loan, infant car seat, interest rate, loan home loan, loan interest rates, loan loans, mortgage, mortgage loan interest rates, nissan maxima, rental property, repayments, scams, whizz
Posted in no equity home loan | No Comments »
Sunday, October 18th, 2009
We had an emergency several years ago and my husband had to go to the hospital. We didn’t have the money to pay but arranged with them to pay in full once we got a home equity loan. We got the loan and paid it off, but it took a couple weeks longer than anticipated. We recently discovered the hospital had put it on our credit report and we’ve been told by the hospital collection agent (and he was very smug about it) that it will stay on for 10 years! What can we do? It’s the only black mark we have!
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Tags: 10 years, arctic ice, bodybuilding, claiborne, construction loans, couple weeks, credit debt, credit report, credit score, david lynch, david lynch film, debt consolidation, flu pandemic, heitech, Home Equity Loan, home equity loans, home loans for people with bad credit, homeowner loans, hospital collection, land for sale, loan refinancing, loans for people with bad credit, money, personal signatures
Posted in about home equity loans | No Comments »
Thursday, October 15th, 2009
We are wanting to do debt consolidation. We just made our first house payment. It was a Fannie Mae foreclosure which we purchased thru a loan with the USDA. We paid ,000 the house appraises for ,500. How long do we have to wait to get a 2nd mortgage and how much could we get? Any help would be great …thanks
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Tags: ag news, cotton production, country gazette, credit card debt, credit debt, debt consolidation, debt consolidation loan, fannie mae, first house, foreclosure, freddie mac, getting a mortgage, mortgage, mortgage refinancing, national ag, new mortgage, reverse mortgage lenders, reverse mortgages, title insurance, unsecured debt consolidation, unsecured debt consolidation loan, usda, vera wang
Posted in 2nd mortgages | 1 Comment »
Wednesday, September 23rd, 2009
My loan is for 30 years 75K. I was told that you can pay it off alot quicker with a line of credit. Has anyone on here done it and how?
I didn’t think it was possible or financially beneficial. I’ll stick to my 300 extra towards principle every month.
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Tags: alun, antikythera mechanism, approximation, baby bedding, basel, chief constituent, computer war, consolidation loans, credit counseling, credit debt, debt consolidation, debt consolidation loans, different kinds, knees, line of credit, loan rates, new survey, paintball gun, principle, rewards, stomach muscles, taylor series, thighs, uncertainty principle, workout
Posted in home equity line of credit | No Comments »
Monday, September 14th, 2009
I recently got a small out-of-court settlement from a car accident I was in. I’ve decided to use the amount for one of the following: 1)pay off one credit card completely (25% interest!), 2) reduce the balance on another to approximately 20% of available credit (17% interest), 3) pay off the balance of a timeshare to build equity (18% interest over 6 remaining yrs), pay off my car so that I can have collateral for for a downpayment loan OR 5) put into a short-term CD (4% interest over 4 months).
My goal is to put myself in the best position to purchase my first home in approximately 4-6 months. I have saved approximately 3% of what I anticipate my home-price will be.
I have a fairly good credit rating (btwn 660 and 750 depending on the agency) and a 6-figure income, however I also carry a large amount of student debt (also 6-figures, at 3% interest over 24 remaining yrs) and some credit debt.
Which of the above options will give me the most "bang for my buck" so to speak?
Tags: 4 months, car accident, cd 4, collateral, court settlement, credit card, credit debt, credit rating, downpayment, figure income, student debt, timeshare
Posted in best home equity loans | No Comments »
Monday, August 10th, 2009
We have been contributing to our 401k at the max. We have ,000 in home equity line of credit debt. Should I stop funding the 401K and pay down the debt? Or maybe go half and half?
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Tags: 401k, accelerator program, card debt consolidation, credit card debt, credit card debt consolidation, credit debt, current mortgage rates, debt consolidation counseling, debt loan consolidation, debt solution, equity line of credit, finance articles, financial debt, home equity line, home equity line of credit, Home Equity Loan, interest credit card, mortgage accelerator, rehearsal studio, second mortgage
Posted in home equity line of credit | 1 Comment »
Monday, August 10th, 2009
Is it possible to get a home quity loan without having equity?
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Tags: auto insurance coverage, bad credit, bad credit finance, blog archive, chieftains, credit debt, delinquencies, fascism, finance options, front desk, headlines, Home Equity Loan, home equity loans, home quity loan, insurance, insurance industry, jobs, life insurance, lifestyle, mortgage, payment protection insurance, poor attendance, sports, term life insurance
Posted in best home equity loans | No Comments »
Sunday, August 2nd, 2009
If i have an equity line that has been charged off, but the first line is current, can the lender that charged off the second still foreclose on the property? Or can they only collect for the amount owed?
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Tags: brokerages, cape coral florida, channel 4 news, credit debt, debt consolidation, equity line, equity line of credit, equity news, florida post, foreclose, hoas, home equity line, home equity line of credit, home equity lines, home equity lines of credit, hud, mortgage news, negative equity, private equity, property management, tankers
Posted in equity lender | 1 Comment »
Wednesday, July 8th, 2009
Would these debts be "forgiven" also and if so, does this affect your house which was used to achieve the loan?
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Tags: amp, bad credit, bad debt, credit borrowers, credit card debt, credit card debt relief, credit card debts, credit debt, credit score, debt consolidation, debt credit, debt elimination, debts, equifax, finance guide, free west papua, getting a loan, getting a loan with bad credit, loan with bad credit, megaupload download, mystery, niche, non profit debt consolidation, poor credit debt consolidation, rtas, west papua news
Posted in about home equity loans | 1 Comment »
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