Friday, July 17th, 2009
My fianc is in the process of obtaining a Home Equity loan however his ex-wife is still on the deed. At the time of divorce she waived her rights to the property and a Quit Claim Deed was completed.
The lending company has told us that as long as she is still on the deed she will be required to sign the loan paperwork. We consulted an Attorney and her name is being removed from the deed and will be filed with our County Clerks office. We were told after the Deed is recorded a title search will be done and the amount vested into the property will be checked. Can anyone explain in more common terms what that means? And also, does anyone know if the Deed change will be sufficient to proceed with the loan or will my fianc also have to assume the Mortgage, as she is still secondary on that.
Any help is greatly appreciated! Thanks!
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Thursday, July 16th, 2009
My husband and I have a few credit cards we would like to roll together so that we have one payment. Two of the cards have higher APR’s because my hubby forgot to pay them on time=) and the other has a low APR but we will be rolling that one also. We have a small second mortgage and they said they could put that in also.
If the percentage rate is good and there are no enrollment fees are we getting a good deal? It makes me nervous because I don’t know anything about HELOC loans vs. other help that may be available.
We would like to be able to pay everything off in the next few years so that we can buy another house when I get out of grad school.
Can anyone help me figure this out?
Thanks
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