Thursday, 26. August 2010
Hello,
I have a vacation home overseas and wanted to buy a car from here and ship it there (buying it locally is not an option). The problem is if I get an auto loan, the title will be in my hand but the bank will hold a lien. The problem is shipping companies won’t ship the car unless u have a clean title. Does anyone know of any banks/credit unions..etc who wouldn’t necessary require a lien or at least make an exception by giving me a letter that says I can ship it.
Personal loans, which do not require a collateral have high interest rates and using an equity line of credit is not going to work for me b/c of the current real estate market. So these two options are not possible either.
Any thought?
Thanks in advance,
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Thursday, 19. August 2010
i thought banks are NOT in the business of real estate? so now its bank owned by another bank. the house market value is 571,000. the loan in default was only 470,000 so there was a lot of equity….but the bank sold it to another bank for 497,717…and now the second bank is going to sell it for it’s market value and keep the profit?? i thought banks were not in the business of real estate…isnt it a liability for a bank ot hold on to a house like that till it sells….so be sides other investors and real estate agents….now theres more competitions with other banks when theres a notice of default on a propertry wit a lot of equity….the agent said it was very common??
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Friday, 6. August 2010
Other than banks, where is the best to go for a home loan?
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Tuesday, 27. July 2010
I got 4 credit cards from 4 different banks. Can I use the personal loan or home equity loan to pay all my balances from these 4 credit cards?
For example, I got a total of 00 debt, each credit card got 00 balance, can I pay them all using my Personal loan from Chase?
Because I was thinking like, I can only use the Loan "from Chase" to pay for my debts on Chase.
Is there a difference between Personal and Home Equity Loans?
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Saturday, 17. July 2010
Other than to make herself more money. We consolidated a bunch of debt into a home equity loan. We were quite happy with 15 years. She offered a larger loan to consolidate more funds that dragged the payments out to 30 years with a higher interest rate and it was only 80 less than our combined payments with the 15 year loan.
I think she thought the 80 dollars could help us now and if we move and sell out house, our debts would be paid off anyway and we would have had that 80 a month extra. But that’s only in the assumption that (a) we move within 15 years and (b) that we need more money later and refinance.
The difference in interest paid between the 30 year combined loan and the two 15 year loans was 183,000.
So, clearly…she was looking out to make her bank more money?
Money people…shed some light on this for me please?
Yeah, I did compute the difference. That’s the 183,000. At no bank, would you find a no interest loan. I am talking in real terms here, not idealist terms.
By the way, Mr. Credit Union guy who hates banks. We did NOT take her advice. We signed for the 15 year. I was really offended that she kept saying that the 30 would have been better. I hate bankers too. I looked into credit unions and I couldn’t find one that could give us a loan we could afford!
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Monday, 12. July 2010
Wondering what the differences are between online home loan providers and banks – is it just that the interest rates are better at the bank?
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Monday, 12. July 2010
I’m in the process of purchasing a short sale property in California that has two mortgages on it. The primary has accepted the offer but I quickly found out there is also a small second. It was probably an 80/20 deal.
How does this generally work and who negotiates with the second? Also, do I have any obligation to the second if they choose to not settle? I assume if they don’t agree the deal gets killed and it goes to foreclosure where both banks will lose.
Any insight is appreciated.
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Friday, 25. June 2010
If I can not pay a home equity line of credit with one bank but I continue to pay the 1st mortgage what action does the home equity line of credit holder take? Both loans are up to date, but I will be unable to pay the HELOC much longer. I do not live in the property in question. It is vacant and with a realtor but it is in Florida and the value is dropping almost daily due to the crisis in the real estate market in florida. Should I let the banks forclose?
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