Easy Home Equity Loan

what can i do about a second mortgage that has been sent to collections after house was foreclosed upon?

admin — Sat, 04 Sep 2010 18:47:57 +0000

they are trying to collect 100k after the house already foreclosed, what can i do
according to california civil code 580b if the house was foreclosed under trustee sale which is the case they cannot do a defieciency judgement, what do u think?
also I have no money to pay them what are they going to collect? i beleive with no judgement they cant take money from my accounts, true?

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If buying a home under appraised value,would seller need to state in contract that equity was given as a gift?

admin — Sat, 04 Sep 2010 15:38:11 +0000

I am purchasing a home from a family member at what he owes on the home, there will be over 0,000 in equity. The lender, now at the end of the loan application process, a day before our closing, now is requiring the owner (my family member) to state that he is giving the buyer (me) 4,000 as a gift of equity. The owner says he doesn’t have to do anything, he can sell the house for what ever he wants to. The lender says they will charge us an extremely high interest rate if the owner will not sign this gift of equity sales contract. I am so frustrated!!!! This loan application was approved on October 19th, can they change all this at the last minute?

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what happens with home equity loans and lines of credit after your house is foreclosed on?

admin — Sat, 04 Sep 2010 07:37:09 +0000

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?

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How can a Hard Money Collector get his money on 650k that is outstanding against properties?

admin — Sat, 04 Sep 2010 05:23:26 +0000

a Real Estate Broker that my friend works for lent people money against the equity of their homes at 5% per month, now many of those people are losing their homes, how can he collect after the foreclosure, ist even legal what he was doing given that he was a real estate broker?

He’s trying to sell the loans off, will he have any luck and what can he expect?

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Am I liable for the second mortgage of a home even if it is an initial purchase of the home?

admin — Fri, 03 Sep 2010 18:43:02 +0000

I bought the house five years ago. I have a first and second mortgage. The second is the initial purchase of the home. It is not a refi. Thinking of walking away due to circumstances. Can they come after me for the second mortgage?

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Best way to finance home improvements?

admin — Fri, 03 Sep 2010 18:06:31 +0000

Bought my house about 7 months ago on a 100% financed mortgage with an unbelievably low interest rate, so I want to avoid refinancing. I don’t think i can do a home equity loan because I have little to no equity since i did the 100% finance. Any ideas? I need about 10000 – 15000 for new siding work.

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Best way to get money thru a home equity loan?

admin — Fri, 03 Sep 2010 07:29:57 +0000

I own a home and want some extra money.I have about 200,000 equity on my home and my loan is for a 100,000.My credit is not the best in the world.I have 2 credit cards total of 1,700 dollars and owe a few doctor bills totaling 730 dollars.My house payments are current and I have no car loan.My salary just barely pays my bills.Maybe I can leave some money in a high interest account to acquire some money from the equity loan too and use some of the money to do a few things to house but not major remodeling just new carpet,paint landscaping etc etc.What is the best way to get some extra cash,I am a single mom and only have my one income coing in and can’t take another job because I have to take care of my other responsiblities as a mom.Please no loan companies respond. Just want to make my quaility of life a little better.Thanks anyone.

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real estate loan transfer or deed,below market value?

admin — Fri, 03 Sep 2010 05:10:39 +0000

If Me And Another aSsociate agree to buy a property to let it build equity,i put the down payment,and he uses his credit & name,agree to transfer property,to me,ibuilds,now have my own loan,but prior to transfering or selling it ,he re-financed and used the equity, does he have to sell it for what he owes,?can i buy it from him below market value?

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Keep the Loan or Add to the Equity Line?

admin — Thu, 02 Sep 2010 18:24:57 +0000

I own a house which I bought 4 years ago. I have an equity line at a 4% interest (IT IS NOT interest only). I also have a land loan for 28000 which is INTEREST ONLY at 6.5% interest and it is fixed until 2010; then the interest will change. I have been thinking on putting the 28000 in my equity line to pay off the loan. I will have a better interest rate and I will be paying some money to the principal. Now, I’m concerned because maybe it is a bad idea to add balance to your home equity. What do you think. Should I keep the loan separate from the equity line or should I add the loan balance to the equity line? Thanks a lot.

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When selling a home, is a home equity credit line treated as a second mortgage or is a line a credit ?

admin — Thu, 02 Sep 2010 16:18:44 +0000

Can 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)?