My bank was offering home equity lines of credit, but I have no equity so I don’t know that I would qualify for that and I really don’t need that much money, only 00-00. I read about Title 1 home improvement loans, but not sure if I would qualify or if it is the type of loan I would need. What are my options? I have a few maxed out credit cards already.
Posts Tagged ‘heloc’
What is the best way for me to finance a new home A/C.?
Tuesday, February 2nd, 2010Can they foreclose if I only default on my home equity loan, not my first or second mortgage?
Friday, January 1st, 2010I’m being forced to relocate for my job, and I’m trying to avoid foreclosure or a short sale- I’d like to try to keep current on as much of my debt as possible. My home is currently worth less than half of what I owe (in florida). I do not qualify for refinancing because ratio of the value of the house to loan value. The notes are held by Freddie Mac. I am hoping that they will write a portion off, with the understanding that I’m still paying on a value far higher than I could sell for. (Mortgages worth K, HELOC of K, current home resale value ~0K. I just want to be able to rent it and keep my head above water. Help.
When selling a home, is a home equity credit line treated as a second mortgage or is a line a credit ?
Thursday, December 17th, 2009Can I sell a home with just a 1st mortgage, collect the equity and continue to pay on my Heloc as if it is a line of credit? or will I have to include it in my home sale (and possibly a short sale)?
If I take out a home equity loan to pay off a HELOC (100% of which was used to buy the same home), can I ..?
Friday, December 4th, 2009get interest deduction beyond the first 100k.
Details:
500k home: 250k down payment, 250k HELOC for the rest.
I want to take out a home equity loan to pay off the HELOC so I can fix my rate.
Is the home equity loan tax deductible in its entirety (i know the first 100k is).
Our broker is wanting to give us a Heloc 2.85% rate for our first house. Will we be paying off any principa?
Thursday, November 19th, 2009We were told a Heloc 2.85% Heloc would be the best for us to keep our mortgage down. We were told that the prime rate is most likely going to go down and if it did go up it would be very minimal, and our mortgage payments would stay the same till our 5 year term was up and then we could renegotiate.
Also with a Heloc are we paying anything at all in principal???
The price of the house is 340,000. Our rate would be 2.85%.
Thanks in advance.
Question about appraisal for Heloc Home Equity Line of Credit…?
Sunday, November 15th, 2009I’m going through BOA (Bank of America) for a home equity line of credit. I thought my house was worth about 5k based on comps and market analysis. They did a "desktop" appraisal and it came back at k. I just purchased the house for k and was hoping to get a HELOC to do some work and upgrades to the house. THey said they "upgraded" the appraisal and were doing a drive-by (I did not mention I thought it was low). Is there anything I can do in hopes of recieving a higher appraisal? Any tips??
Calculation question, what is better to pay off overall with consideration to tax deductions…?
Sunday, November 15th, 2009I am trying to decide what is best to start using my extra money to pay off…a student loan at 5.4%, an auto loan at 4.99% or a heloc at 7.75% I know student loans and heloc interest is tax deductible, but assuming these deductions don’t affect a change in bracket (tax rate) what is the calculated difference in interest saved (assuming 15% bracket) on whether to pay which of these three….(I guess I’ve always been told pay non-deductible first, but with these numbers I just don’t see how that adds up…and most importantly how do I actually calculate the real interest I’m paying on tax deductible interest so I can compare it to nondeductible rates…) thanks in advance for any help!
What happens if I do not pay back my home equity line of credit?
Monday, November 9th, 2009I live in Californing where I have a 1st mortgage, and a home equity line of credit that was taken out years after my 1st mortgage. Can I file chapter 7 and get out from under the debt of my HELOC? Or can they forclose and I have no way of stopping them? I used the HELOC to purchase a businesses that is failing and I can only afford to pay the 1st mortgage.
Is a mortgage refinance a good option for me? (revised)?
Sunday, November 8th, 2009Is a mortgage refinance a good option for me?
Scenario: 1st. mortgage owed is a fixed rate ,000.00 at 5.125% and 11 years left to pay off. Also a HELOC owed is ,500.00 at current rate of 4% for 16 years to pay off.
Max cap is 12.9% on the HELOC.
I want to refinance to a new 10 year mortgage combining both at a fixed rate of 5% for ,500.00. Zero points. (Closing costs of 00.00 rolled into new mortgage). Home value is approximately 0,000.00.
Am I making a smart move?
I need help deciding on a mortgage? HELP!!!?
Saturday, November 7th, 2009Purchase price is 198k Doing an 80/15.
8.5 on second mortgage heloc on all options
6.0 30 yr fixed 1 point origination
6.25 30 yr fixed no origination
6.25 interest only 30 year fixed 1 point origination
6.5 interest only no point
Should I do the 6.25 interest only and put the money I am saving on the first on the second since its a higher rate? I am planning on staying in the home probably more then 2 years. Probably like 3-4 years in home.
Related ‘heloc’ sites :
| HELOC - Wikipedia, the free encyclopedia A home equity line of credit (often called HELOC and pronounced HEE-lock) is a loan in which the lender ... A HELOC differs from a conventional home equity loan in that the ... en.wikipedia.org/wiki/HELOC | |
| What You Should Know About Home Equity Lines of Credit A home equity line of credit is a form of revolving credit in which your home serves as collateral. ... Once approved for a home equity line of credit, you will most likely ... www.federalreserve.gov/Pubs/ | |
| HELOC: Definition from Answers.com Home Equity Line Of Credit - HELOC A line of credit extended to a homeowner that uses the borrower's home as collateral www.answers.com/topic/heloc | |
| Home Equity Line of Credit (HELOC) from Bank of America Decide whether a home equity line of credit (HELOC) is right for you. Whether you have ongoing finance needs or just want your money all at once, learn ... bankofamerica.com/... | |
| Sample: HSH's Monthly National Home Equity Line of Credit ... HSH produces monthly surveys of home equity line of credit products. HSH Associates is the world's leading publisher of mortgage and consumer loan information. ... www.hsh.com/helocsample.html | |
| Helocs from hell - Aug. 1, 2006 The cost of a home equity line of credit has soared over the past two years. ... Refinance the primary mortgage and pay back the full amount of the Heloc. ... money.cnn.com/.../31/ | |
| What Is a HELOC? HELOC stands for home equity line of credit, or simply "home equity line." It is a loan set up as a line of credit for some maximum draw, rather than ... mtgprofessor.com/ | |
| Home Equity Loan Center - Yahoo! Real Estate Get information about home equity loans and home equity lines of credit (HELOC) from the Yahoo! Real Estate Home Equity Loan Center. Get great rates on a home equity ... realestate.yahoo.com/loans/ | |
| Using home equity to buy a car A home equity line of credit, often called a HELOC, is also a second mortgage, but it has ... A HELOC can also act to supplement an emergency fund when working ... www.bankrate.com/brm/news/ | |
| How to Calculate a HELOC | eHow.com Instead of borrowing money in one lump sum, you open a credit account similar to a credit card. Because the HELOC is secured by... www.ehow.com/ | |