Friday, 3. September 2010
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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Friday, 13. August 2010
After a month of searching, I found 2 trucks that I was interested in buying. Called the first place, and they sold it just the day before. Called the second place, and they sold it just moments before. I decided to look locally and found a truck on craisglist in a nearby neighborhood by a private seller. It is a steal of a deal!!! I’m afraid they will sell it before I get a car loan from my credit union. I was wondering, can I take the money out of my home equity, then use the car loan from the credit union to pay that off since it’s a much better interest rate?? Just a thought to get things moving quicker. Thanks!
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Sunday, 25. July 2010
My home has appreciated significantly, and I’m looking to pay off my current adjustable rate mortgage and get a fixed rate loan at a lower interest rate, as well as extra money to fix it up and pay off my car loan and other bills. Also, do either cover property taxes and insurance, or will I have to pay them out of pocket? I just want to know the basics before going to the bank so I don’t feel confused or overwhelmed. Thanks!
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Wednesday, 7. July 2010
I recenly got approved for a home equity loan. I am purchasing a car. I can get the home equity loan for 6.6% with upfront cost for the loan at 00. (A 30 year loan which I plan to pay back MUCH sooner). I won’t pay enough interest to get a tax benefit so I am wondering, am I better off to pay a higher interest rate and secure a car loan? Not sure how to firure in the 6.6% plus the 00 cost to get the house loan. Any advice would be greatly appreciated. I am borrowing ,000, which is more than I need and most likely will hang onto the excess money and put it back toward the mortgage loan. Before you ask, I borrowed more than I need as most lenders don’t want to mess with a ,000 loan. Thanks!!!
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Saturday, 19. June 2010
want to buy new vehicle but still owe on present one plus have other loans. My house is paid for would it be a wise choce to do a home equity loan rather than take an nother car loan. I know nothen about homae equity loans
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Saturday, 19. June 2010
my wonderful parents are lending me money to buy a new car, and they plan on borrowing the money from our home equity line. they said the interest rate is much lower, but my mom wasnt sure if they charged interest every year like a normal car loan or if it was ultimately much cheaper. anyone know? first good answer by sunday gets the ten.
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Monday, 7. June 2010
I have a dilemma.
We have a ,000 home equity loan at 7.25% apr, a car loan on a 7 yr old car for 00 at 5.99% apr and 000 in savings at 3-4% interest rate.
We are currently having a baby and have short-term goals of starting a business so we don’t want to get rid of too much cash. We probably will only be in this house for another 3-5 yrs.
Should we pay-off the home equity loan or the car loan or both?
Thanks for your replies.
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Saturday, 5. June 2010
I have two mortgages – one for primary residence and one for investment property. I know that interest payment on both loans are tax deductible. But if I get a home equity loan against my primary home to pay off my high-interest car loan, the interest on this home equity loan is also tax deductible?
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