As a homeowner, you need to take out a home equity loan for home repairs. You wish to borrow ,000 to complete all needed repairs.
Research online and find a loan agency that you will borrow from and give the interest rate. Be sure to reference the loan site.
Explain how much it will cost in interest to pay the loan off in 5 years if compounded monthly.
Then explain the difference in paying the loan off at the end of 5 years if simple interest is used.
The value of my home has declined but I would like to get a lower interest rate, especially on the home equity loan. Help.
I HAVE A HOME EQUITY LINE OF CREDIT. I HAVE TO PAY ABOUT 75,000 AND HAVE A FIXED RATE AT 7.45 %. MY MONTHLY PAYMENTS ARE MOSTLY INTEREST ABOUT 0. I TALKED TO THE BANK AND THEY SAID I COULD GET OUT OF THE 7.45% FIXED INTEREST RATE AND GET A PRIME RATE AT 3% AND I’D BE CHARGED A ONE TIME 0 CANCELLATION FEE. WHAT I WANTED TO KNOW IS SHOULD I CANCEL THE LOCKED 7.45% AND GET THE PRIME RATE? WHAT ARE THE PROS AND CONS?
I had a personal loan that was refinanced and turned into a home equity loan. Our home was foreclosed and we current on the loan payments. We are filing for bankruptcy and I need to find out whether to list this under schedule D since it is partially secured or under schedule F since they don’t have any property to take from us.
Is a consolidation loan in the range of 0,000 — 0,000 secured by a person’s home?
Also why are the rates of home equity loans more than home equity lines of credit even though they pretty much the same thing?
Thank You
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.
We 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)
| Debt Consolidation Loan Directory Shop DebtConsolidationLoan.com for companies providing a wide range of financial services: insurance, home equity loans, auto financing, mortgages, personal loans and ... www.debtconsolidationloan.com | |
| Wells Fargo Financial Offers consumer debt consolidation, home equity and automobile loans, private label credit cards, and equipment lease financing from Wells Fargo. financial.wellsfargo.com | |
| E-LOAN Debt Consolidation | Debt Management, Help & Relief ... Find out how debt management can help you consolidate your credit cards or loans. ... Debt consolidation: Loosely defined, it's the act of combining several loans or debts ... www.eloan.com/ | |
| Direct Consolidation Loans U.S. Department of Education program under which borrowers can apply online for consolidation of their federally-insured student loan debt. www.loanconsolidation.ed.gov | |
| Debt consolidation loans: Consolidate your bills with a low ... Debt consolidation loans help to consolidate bills with a low rate loan. Avoid collection calls by paying off bills with unsecured debt consolidation loan. www.debtconsolidationcare.com/ | |
| Debt Consolidation Loan and Bill Consolidation - DebtHelp Information about debt consolidation loan programs for people with good or bad credit. Get the best debt consolidation loan rate and consolidate your ... www.debthelp.com/ | |
| Debt Consolidation Home Equity Loans and Lines: Debt ... A Debt Consolidation Home Equity Loan or Line is a Smart Approach ... With a home equity debt consolidation loan or line of credit from Chase you can take advantage of: ... chase.com/index.jsp?... | |
| Debt Consolidation Loans - Consolidate Debt - Debt ... XML Parsing Error: not well-formed Location: http://www.lendingtree.com www.lendingtree.com/ | |
| CitiFinancial Offers a variety of loans including bill consolidation, home equity, home improvement, personal loans, and more. Find a CitiFinancial branch near you or apply for ... www.citifinancial.com | |
| Debt Consolidation Advice - How to Get Out of Debt Learn about debt consolidation loans. Find out how to get out of debt by consolidating loans to lower your payments and paying off debt. www.lendingtree.com/ | |