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 ‘Home Equity Loan’
what happens with home equity loans and lines of credit after your house is foreclosed on?
Friday, September 3rd, 2010Home equity loan term is running out. what to do now?
Thursday, August 26th, 2010Our loan was for 5 years. That time is almost up but we will still owe approx. 66,000.00 as a balloon payment. Cannot find any information on what we can do now. All I can find is that you can refinance it through your existing company. We have done this twice before over the past 10 years. However, this time we have had a severe drop in our credit score. Our estimated property value is at least 3 times what we need to borrow in order to pay off this 66,000.00 balloon payment. would like it to be a regular mortgage, or whatever, so that at the end of the term, we wont owe anything.I guess I am wondering if my current bank is obligated to refinance it or would I be forced to find another company who finances couples with poor credit. We have been with this same bank for 15 years. The last time we refinanced the equity loan, when our credit was good, I asked the banker to set it up so that we wouldnt owe so much at the end of it. I guess he thought that 66,000.00 wasnt SO MUCH. Is any company out there helping couples in our situation .
Questions about obtaining a Home Equity Loan?
Thursday, August 26th, 2010OK so I have a couple of questions since I am considering looking into obtaining a home equity loan, I’ll try and include as much info as I can so you are familiar with my current situation.
So I plan on putting the house (home #1) on the market within the next year or two and to make the home market ready it needs some work. On top of this I need to purchase 2 cars for my sons so I figured a home equity loan will be able to cover these costs. I own 2 homes. Home #1 was appraised at 0,000 and has 2,000 remaining on the mortgage. Home #2 was appraised for 0,000 and has 3,000 remaining on the mortgage so I like to think I have a decent amount of equity. I have an ok credit score sitting around 720, and make roughly 0,000/yr. I’ve NEVER missed a mortgage payment, nor any payment in general over the past 3 years. I’d really like to take out around 0,000 if that’s plausible. I’m just so confused as to how to go about this; some say get a home equity loan others say refinance. What is your personal opinion, and why? I greatly appreciate all the help and advice you share!!!
ADDITIONAL DETAILS:
I’m currently in a lease and I personally don’t see the need of getting car loans, which is the secondary concern. The primary concern is there is work that needs to be done to the house before I put it on the market. Figured this loan could fit all my needs into one note.
Should I refinance my mortgage?
Thursday, August 26th, 2010My home is appraised at 5,000, my mortgage is at 5.875% with a balance of 67,000, I also have an equity loan at 31/2 % with a balance of ,500 should I refinance ?
our mortgage is paid every month could we lose our house for not paying home equity loan?
Wednesday, August 25th, 2010We have a home equity loan that we took out to purchase a bussiness for my brother inlaw he has fallen behind on payments but our mortgage is paid could we loose our home?
Home equity loan denied?
Tuesday, August 24th, 2010Ok me and my wife just recently applied for a home equity loan but got denied. We need an equity loan for home improvements. Our credit is great, and our home is completely payed off, the reason why we got denied was because of our debt ratio which was the cause of our credit cards and personal loan which we were never late on, we just had to much open. We now just payed off EVERYTHING we owe including the six credit cards and the one personal loan.
My question is do we have to wait a certain amount of time to reapply or can we just apply again now? We really need to do some home repairs as well as make it look nice 
Also should we close all six card accounts?
Is it a good idea to get a home equity line of credit?
Tuesday, August 24th, 2010I purchased my first home in Oct 2009 and the equity value is 100k more. I was pre approved for a home equity loan without asking from PNC for 75k. Of course I wouldn’t want that much but I was thinking about instead of saving 0 a month for home repairs that cost over ,000, I could just get this line of credit for 10k and pay monthly payment. I want a fixed rate, but don’t understand the terminology to getting this loan. (i.e., prime rate, apr, LTV or LVT or something like that) etc. Anyone ever had a problem with a bank when getting this type of loan. And/or do you think its good idea.
Equity loan for a home owned by husband and wife?
Sunday, August 22nd, 2010My mother and father have both their names on the home they live in. My father was allowed to take out a 300,000 line of credit (equity loan) on the house without my mother’s permission. Is this allowed. He has dementia and has lost/wasted the money. How could this have happened without the bank informing the other homeowner or getting her permission?
What is the best way to rent a house quickly?
Wednesday, August 18th, 2010The house in question belonged to my Mother who died in April 2009 and has been empty ever since. My problem is that she had an active home equity loan on the property that I have been trying to pay monthly, even though I am not listed on the loan. Now that I am having my own financial issues and late making payments, the finance company wants to foreclose on the property. They are willing to not foreclose if I can make the 1 needed payment and get the property rented ASAP.
Property located in Bellwood IL.
My name is on my mother's house and she wants to take out an equity loan? Am I responsible if she defaults?
Wednesday, August 18th, 2010My mother put her house in my name and my siblings. Now she wants to take out a home equity loan and the bank wants my personal information. Am I responsible if she defaults and how does it effect my finances?
The bank is now saying we don’t have to sign for the loan. It will be in her name only, yet they want our personal information. The representative says this will not affect our personal finances or credit scores. Do I believe her?
Related ‘Home Equity Loan’ sites :
| CHASE Home Equity Loans and Lines of Credit: Home Equity Loan ... Remodel. Repair. Increase your home's value. The right home equity loan or line of credit makes it possible. Chase loans let you take advantage of the equity in your ... chase.com/index.jsp?... | |
| Home Equity Loan with USA Prime Loans USA Prime Loans is a loan broker referral service. We put you in contact with brokers who understand home equity loans and know who has the most competitive rates. ... www.usaprimeloans.com/ | |
| Home Equity Loans | Current Home Equity Loan Rates Get the best current home equity loan rate quote. Use our home equity calculator to calculate your payments and learn more about home equity loans through our guides. www.mortgageloan.com/ | |
| Home equity loan - Wikipedia, the free encyclopedia A home equity loan creates a lien against the borrower's house, and reduces actual home equity. ... Home equity loans come in two types, closed end and open end. ... en.wikipedia.org/wiki/ | |
| Home Equity Loan Rates, News and Advice from Bankrate.com Searching for home equity rates or advice? Bankrate.com offers timely news, opinion and advice on home equity loans and 2nd mortgages. www.bankrate.com/ | |
| Wells Fargo - Home Equity Any existing home equity loan must be paid off with this loan. ... Home equity loan and lines of credit are available through Wells Fargo Home ... www.wellsfargo.com/equity | |
| Home Equity Rates Online: Home Equity Mortgage Loan Rate ... Take a vacation. Buy a car. Manageable home equity rates make it possible. Apply for a Chase home equity loan online. Get a low monthly payment for your home ... chase.com/index.jsp?... | |
| Home Equity Loan If a fixed interest rate is important to you, or if you want to budget for a regular monthly payment, consider a SunTrust Home Equity Loan. Features and Benefits ... suntrust.com/portal/server.pt? | |
| Home Mortgage Loans by ditech | Home Equity & Mortgage Lenders ditech offers home & mortgage loans. Estimate your mortgage payment with our home mortgage calculator. Start a home or mortgage loan at ditech. www.ditech.com/equity/ | |
| Lending Tree Online loan center featuring mortgage, auto loan/lease, home equity, credit card, personal loan, and debt consolidation services. www.lendingtree.com | |