I have done loan modification with my first mortgage.
Posts Tagged ‘mortgage market’
How can i get rid of my home equity line of credit?
Saturday, January 16th, 2010First mortgage vs home equity loan or equity line of credit?
Thursday, October 29th, 2009Would a cash purchase followed by Hel or Heloc have any advantage over a traditional mortgage when it comes to fee’s, points,rates and any other associated costs.
I applied for home equity credit thru chase. Is this a good or bad idea?
Thursday, September 24th, 2009I need K for a new roof. It is going to be a lot of work up there, so I asked for ,000 more than they bid the job in case of some wood rot or some other extra’s.
I requested a fixed rate and no closing cost, so they offered me the K for the loan at a fixed rate of 7.8% interest for 4 yrs. They said they would offer me an adjustable rate of ,000 and if I need to borrow more than the ,000 they would let me borrow and fix that rate. They also said no closing cost. What do you think? Can I find a better deal somewhere else?
I need to add, the roof is leaking water all over the place, and I have a trash can sitting next to me to catch the rain water,so this is kind of an urgent matter. Also, this is a 2 story house with an add on addition and a garage with a big tear off since I think we need to know what is under the roofing.
Equity line of credit a good idea to pay off my mortgage?
Thursday, September 24th, 2009I called my mortgage company today and asked about a refinance. I am not behind, or in forecloser. He did not offer me a good rate, but he did talk about a equity line of credit to pay off the mortgage. I currently have a ARM loan, (I know not good), but thats why i called and tried to get a fixed rate.
He said if I take a equity line of credit, to pay off the balance of the house I would have to pay no fees, or closing cost. Which means that my mortgage would have a 0 ballance. My credit is OK, I owe less then 1/2 of what I borrowed. My ARM interest rate is 7.125%, and he said he could get me the Equity line of credit at 4.5% Is there any catch to this, is this a good idea, or bad idea. Please help
Help Loan source – Bridge, Mortgage, Equity?
Wednesday, September 9th, 2009I am a 67 yr old widow wants to sell my home & buy new condo. How do I go about it the best way?
Scenario:
Sell Ranch Home – very desirable location one acre lot
Home has no mortgage
Market & selling price are down (that’s ok, it is still do-able)
My disposable cash is about of the condo cost
Condo is new & builder will take contingency (is this a good idea for me or does it increase the cost I might have gotten?)
I’ve never sold or bought a home (we built it) and I’m lost here with what direction is best for me. I want to go ahead & market my home & buy the condo.
My goal is sell the house – buy the condo and to have NO mortgage when the dust settles. Here are the options I see open to me to obtain less than half the money needed to buy the condo.
1. Withdraw some 401k money (I have not tapped any yet)
2. Get a Home Equity loan & pay it up when I sell my house
3. Take a mortgage (is there a fee to pay it back right away?)
4. Check into a bridge loan? (can I pay it right back?)
5. Forget the condo and just move to an apartment.
If it matters, I live in Wisconsin
I sure wish there was a class to take for seniors downsizing. The biggest problem for me in todays market is simply the fear of doing this alone and wrong. Yes, I will get a lawyer and yes I will hire a RE broker but I have done neither one yet.
Thank you in advance for any help.
Home Equity Line of Credit Mortgage Question?
Tuesday, August 11th, 2009Our mortgage is about at 0K and our home is worth 0K. Is there a percentage the banks use to calculate for a home equity loan or….do you get the full K?
I need to refinance my home..I need someone to say yes to 85% LTV?
Wednesday, July 15th, 2009I worked with many lender and yet I can’t seem to find anyone to approve my loan for 85%LTV…I understand that I may have a difficult loan due to the fact my midscore is: 542..1X60day late; a reprossesion; collections;etc….but I have the equity in my home..and I have a decent income..so what is the problem?
I have been approve for 75-80%LTV, but I desprately need 85%..I want a direct lender to help…who can say YES?
how do i find a lender who will lend at 85% to 125% CLTV with low equity and 460 credit score? Need?
Wednesday, July 15th, 2009California lender needed for 3rd ,000 or refi no cashout pay off debt with one mortgage
I want to pack up and move somewhere sunny and warm in the U.S. in the next 5 – 8 years. Where should I move?
Wednesday, July 8th, 2009I should have about 0k saved up for the move with another 0k in home equity
I want to pay cash for either a condo or house but will settle for a small mortgage
I prefer city living – population of 300,000 +
No or very little snow
I would need to get by on k a year, keeping mind that I would have no mortgage or rent to pay.
A walkable and dog friendly city would be great
Any help or suggestions would be greatly appreciated.
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