Easy Home Equity Loan

Took out an equity line on a home that was foreclosed 3 years ago, It is now a unsecured loan. I have made payments each month to this company, now they tell me my interest rate went up to 23%??? , The paperwork I signed said it started at 19% and would go down each year, then they tell me I have 3000 in deferred interest????? WTF???? I don’t mind paying my debt but christ, I refuse to get piled on or raped by these Bastards. What are the usury laws ?????

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My girlfriend and I bought a home in Ohio 3 years ago for 0,000 it was a 30 year fixed mortgage but with a pretty high interest rate. Our monthly mortgage is around 00. We are current in our payments. We have agreed to separate.

We also agreed to sell the house.

However, I am interested in buying her out. The deed is on both our name but the mortgage is only in her name. Can we agree to refinance and place the new loan in my name only? What portion would be owed to her? Also we have checked and there is still no equity, we are still paying the interest. Do I pay her back just the interest paid meaning half of the morgage that was paid for the past 3 years?

Thank you

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My husband is not doing very well in his job, as it is tied directly to the economy. He is starting to panic about money, and informed me we will need to refinace a fixed 15 yr morgage (to which I only have about 9 years left to pay on) to a 30 year morgage and incorporate a 9,000 home equity loan that will be paid off in 2 years and also a 9,000 car payment scheduled to be paid off in 3 years. Our old interest rate is 5.62% and the new one will be higher at 6.375% And the real kicker with both my husband and I credit scores over 800 my bank is charging me over ,000 in refi fees. My husband thinks it is a good deal, but something is telling me this is not so. I suggested to him we cash in some iras to pay off the car and home equity, since we seem to be losing money on them anyway as they are tied to the market. If I do so my old payment will only be about 0 more than the new payment. I think we should hold off, especially since his child support will end in less than 4 mos

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I bought a lot and plan to get a house built in 5 years. I dont like the current loan, 6.25% fix rate for 3 years but interest only. Is it a good idea that I use "home equity line of credit" 4.75% at this moment to pay it off?

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My wife and I were going to try and refinance our mortgage as our interest rate is 6.25% and the rate had dropped more than a percent. This was the bank’s idea, they actually called us and wanted to set up a meeting. When we got there we went over some ways we could save money, but they wouldn’t allow the the refinancing because my wife’s credit score was too low.
My friend suggested a home equity loan which is, from what I understand, is a loan based off how much non-interest money you’ve paid on the loan. As you can tell I’m not 100% on this.
We took out a loan for about 0,000 and the last value of the house was at about 5,000. The catch here is that I’ve only owned my house for about 3 years so I’ve only actually paid like ,000 on the principle. I’ve never missed a payment, or asked for an extension; and I usually pay more than the amount they ask for.
My plan, if possible, would be to get about 00-00 to pay off some bills, mostly medical. It seems when you go to the hospital these days you get a bill from the hospital, the doctor, the assistant, and pretty much anyone you talk to. The bills aren’t that much in total, but each one wants you to pay a certain amount which is annoying. I’m hoping paying these and clearing any credit card debt will raise us enough to get approval for refinancing.
I do plan on talking with the bank, but I like to come here first just to get a better idea of things.
Thanks in advance.
Note: I am on a fixed rate, I will never go to variable. Also we plan on living here the rest of our lives. We both have very good, very steady work in healthcare.
The idea is once these misc. bills that I pay 0 or so a month to are gone, that money could be slapped back on the monthly mortgage over-payment. I usually paid several hundred over but as the number of the number of these little bills increased, it took away from that and I’m pretty much not paying any extra.
401K is out, as this is my first job that offered it and I have next to nothing. We are a young couple, both mid-20s.

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If it’s not lawful what can I do. I’ve been paying rent to him over 3 years and he’s taken out another mortgage on the house and now he want to go up 400.00 dollars more on the rent…What can I do about it?

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We pay 3 a month which includes escrow…….We are now 3 years into the 5/1 arm…Our principle balance now is ,000
Our home is valued around 4,000 and we have about 9,000 in equity………HOW MUCH WILL WE EXPECT TO PAY AFTER THE FIVE YEARS IS UP? BASED ON THE AVERAGE INTEREST RATES?????

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We owe 190,000 on our house we built 3 years ago that is worth 350,000 in today’s bad market. Our interest rate on our loan is 6%. We can refinance at 6% again right now with our same bank and we are thinking about taking 25,000 to consolidate debt left over from initial construction and make a home improvement. Our credit card debt has been on fixed interest rates (4.9%) but I don’t like having this much on credit cards. I know they say to get an interest rate 1% or lower when refinancing, but in our case with having the equity and the same rate, shouldn’t this be a favorable situation? We aren’t ever planning on moving from here, so I don’t know if that makes a difference in how people make the decisions to refinance. Any advice or info I am overlooking would be greatly appreciated!

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