Easy Home Equity Loan

My husband and I are about ,000 into debt. We just bought a home last year and you know how it goes from then on. Between the two of us, it’s not too high of a number but with HIGH HIGH interest rates, it feels like it will never go away. We are looking into a personal loan (home equity loan not an option at this time). We want to payoff all our debts and use the rest for finishing our basement. I do the bills, and can’t stand the anxiety associated with making sure everything is where it should be on time. From personal experiences, has anyone benfitted or had a loss from taking out a personal loan and re paying it back over time?

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I have approx. 40K between 4 credit cards that I had before I was married. These credit cards are in my name only, not my husband’s. I have always paid my debts on time and have never been late until the past few months. I am now past due 30-60 days and now owe late fees and over the limit fees and can’t even afford the minimum payments any longer. I have been basically sticking my head in the sand about my financial situation for almost 2 years and borrowing from Peter to pay Paul.

My husband and I jointly have a home loan with a balance of 92K and a home equity loan with a balance of 30K. Our home is worth about 120K so we have no equity. We are current and have never been late on our mortgage loans. We live in Indiana.
My husband has a car loan in his name only. It is current and have never been paid late.
My husband has 2 credit cards with a balance of 11K. These are current and have never been paid late.

I now only work part-time making approx. 0-400 gross per month. I am trying to also substitute teach to make more money.
My husband works full-time and this is how we afford to make our mortgage payment, car payments and his credit card payments on time. We are trying our best to make certain his credit stays good.
My husband has a credit score above 680. I believe mine was 640 until the last few months – now I am sure mine is terrible due to my lack of payments.

I am looking for advice. I have tried to negotiate with my credit card companies and offered to send as much as I can until I can find a higher paying job/more hours. However, they are not agreeing to this and won’t stop the fees/high interest rates from accumulating. I almost feel like it is pointless to send anything because my balance just gets higher after sending a payment.

I definitely want to pay my obligations. I have looked into credit counseling but until I have more income, I can’t afford to make the kind of payments that is required. One counselor suggested that I file bankruptcy individually but I don’t know if that is a real option since I am married. My husband’s credit is perfect and I don’t want to risk his credit.

If I can/should file bankruptcy as my only option, can I still pay back my debt – just on my own terms that I can afford?

If I don’t pay my credit cards, what will happen? Can they take my house or affect my husband’s credit? If they sue me, will the court allow me to make payments that I can afford?

I know this is a lot of information and questions. I truly appreciate your help!!! The stress of this is killing me. I am so tired of worrying.
I have twins so it is tearing me apart to have to put them in daycare in order to work full-time until they are a bit older. Plus, by the time I pay for daycare it’s hardly worth it.
Marq suggests ignoring the calls, etc. But won’t the credit card companies sue me and then I’ll even owe more? If they do sue me, can I get my house?

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I was recently divorced, my daughter is in college. I fell behind on some payments on my credit cards in an effort to support my daughters educational needs. I have two homes with approx. ,000.00 worth of equity. I requested from a local bank where i already have a note to borrow approx. ,000.00 to pay off all cards and other debts. The banking institution refused my request, stating that i have some delinquent payment issues, on cards, etc. He stated since i have a note with them the only thing he can do, is re-adjust my payments on that particular note i have with them. I am new at this type thing, could someone please give me some advice? I am just trying to bail myself out of the hold that i am in, to make a life better for my daughter. Both homes have a lien on them with the bank.

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I was approved for a residential construction loan in March of 2008. I built the house and it was finished and inspected in November of 2008 and at that time I moved into the house. Now, almost a year later, the bank that granted the construction loan cannot find someone to finance the balance in a mortgage. The house is worth quite a bit more that I built it for, so I will have a lot of equity in the home. The bank that financed the construction loan is being NO help at all in aiding the process of converting the construction loan into a mortgage. I have been paying the interest payments on the construction loan for well over a year, and due to a variable interest rate, the payments are higher than my proposed house payment. What can I do?
To the person who asked if I have called around or looked at Lending Tree – The bank that financed the loan tried several times to get it financed and they could not find anyone to cover the loan. I am just wondering what happens if I can’t get it financed. My credit score, debts, ect. have not changed for the worse since I was appoved for the construction loan. Does the bank who has the construction loan have to help me getting it financed as a mortgage?
My bank is the one who gave me the construction loan.

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The construction loan is financed for about 0,000. My husband and I have about 00 worth of debt. We want to obtain a debt consolidation loan just to pay off these debts. By paying this off we will raise our credit scores almost 40-60 points. My husband is at a 631 score. He wants to be at a 700 or 720 by the end of the loan to secure a low interest rate. Once the mortgage is finalized we will roll this 00 debt into the new mortgage loan. Although we are approved for 0,000…we are thinking the home can be built for 0,000. We plan to pull some equity out of the house and put it to aside for a rainy day.

DOES THIS PLAN SOUND EFFECTIVE TO YOU?
ANY OTHER SUGGESTIONS?

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Purchased home in 1993, 0n a 15 year land contract, have plenty of equity, but until I can get the seller paid, and take care of some of the other debts incurred, I am unable to apply for the equity. I have been divorced since 1998, and would love to pay pff yhr contract get the deed and title in my and my fiances name so that we canstart getting our ducks in a row before tyin the not. "The loan would be in both of our names as I intend to have the title deed and taxes. At this point we are looking at about a 40,000 dollar loan to pay off a land contract on a home that appraised at 110,000.00, Depending on the interest rate, no more than a l0 year loan, or whatever we could work with.

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My credit is not good right now because I have a lot of medical bills that I have to pay off along with some other debts. But I do have a lot of equity in my home. I need to know how can i get my equity to work for me.

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I bought my home in March of 2003, my mother co-signed for me, but does not live with us or pay on the mortgage. I would like to look into either a refinance or home equity loan, with a goal of perhaps borrowing -15,000 to pay debts, etc. Is it possible to do this and still maintain the same interest rate and monthly payment? Where would be the best place to inquire about the process, my credit union where I handle the rest of my finances, the company that I have the mortgage with, or an outside company?
No, I did not commit fraud thank you very much. I simply mentioned it in my question in case it made a difference. I’m no expert but I’m sure if it were somehow not legal to have a co-signer that did not reside with you then I would never have gotten the loan in the first place!

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