Monday, 3. January 2011
I’ve slipped and let me credit score get a little low. Today I applied for a home equity line of credit through CITI where I have my first mortgage and was declined. I would like to obtain this loan to payoff credit card debt and get my finances under control. Where or what financial institution is my best chance to be approved for a home equity loan or line of credit?
Saturday, 1. January 2011
4 years ago my wife and myself purchased a home in Ma. Needless to say, We paid alot. At the time, the market was hot and we had relocated from a market which had a significantly lower home prices. In order to continue living in the lifestyle we had grown accustomed to, we did some "creative financing". We took out a no interest loan for the first 2 years and were lucky enough to refinance before the market cooled down. We also took out a Home equity line of credit. We were able to secure good interest rates on both but the monthly output is substantially more. Combine this with a few life changing events, we find ourselves on the verge of forclosure or bankruptcy. Are there any better options available? If not, which of the 2 options will be easier to recover from? By the way, selling the house is out. It will not appraise for what we owe.
Sunday, 26. December 2010
Is it refinancing my 1st mortgage? Taking out a home equity line of credit? Taking out a home equity loan? Or none of the above?
Tuesday, 21. December 2010
I have a ,000 bonus and ,000 in proceeds from a stock purchase plan. What should I do with this ,000?
I have a ,000 student loan at 5% 6 a month
,000 car loan at 0 a month / 9% interest.
I also have a ,000 balance on my home equity line of credit at 15.4%.
I know that’s a really high interest rate, but I am a bit conflicted if I should pay off my car loan to free up that extra 0 a month to pay down the HELOC faster or if I should focus on the HELOC and keep the 0 a month payment going?
The stock plan is not in a 401(k) or IRA. It is out of an after-tax stock purchase plan. The only taxes I have to pay are on the investment gain, which ends up being approximately ,000.
Thursday, 2. December 2010
I have 2 payments to my lender that were 31 days late (30+ gets reported). I have tried talking to managers on the phone, writing a professional letter, and offering to guarantee that I refinance my loan with them when my interest rate fixed period ends in a year, and they simply refuse to help me. I am trying to get a home equity line of credit to do some home repairs, and I am finding it nealy impossible to do so with 2 recent mortgage lates. My LTV of over 90% doesn’t help things, but if I could get those 2 lates removed, I’d qualify for loans that go up to 100% LTV. If anyone has any ideas or suggestions as to what I can do to try and get those lates removed, I’d greatly appreciate it. Thank you, in advance, very much for your time.
Wednesday, 1. December 2010
My husband wants to buy a semi. If we took out a home equity line of credit, our payment would be small. Alot smaller than financing the truck. I am not 100% comfortable with using my home for anything. Does anyone know which would be better?
Saturday, 27. November 2010
How does home equity loan qualification works? My house is worth around 0,000 – 0,000 and my mortgage balance on it is around 0,000 with payments at roughly 00.
What if I want to qualify for home equity loan or home equity line of credit say for 100.000 grand. How does the whole qualification thing works? What do lenders look at, how they decide?
Would appreciate any help. Helpful links are good too if you know any resources!
Thanks!
Friday, 26. November 2010
I want implants and I don’t want to wait for them any longer. I don’t want to get a credit card or anything because I have two I am trying to pay off. Would it be foolish to take a home equity line of credit?