Thursday, 3. March 2011
My mother and father have both passed away and left my 3 other siblings (including myself) the house. The house is in a trust that has all our names on it. My husband and I live in the house and have the past 4 years and would like to do some home renovations. However, we have been told that we can not take a home equity load because the house is in a trust. Any suggestions? The house is paid off.
Thanks!
Thursday, 24. February 2011
I thought I could extend my "vacation" by using maybe ,000 of my 0,000 home equity to pay my bills for a couple more months. Everyone I have contacted says you must have income to get a loan. Oops! Any ideas? I will get a job, but need a month or two worth of cash.
Wednesday, 23. February 2011
I heard there was a rule in Texas, Once a Home Equity always a Home Equity.
Saturday, 12. February 2011
My 8.5% student loans are like credit card rates. Are the banks profiting on this? My Direct Federal Student loans do not qualify to be consolidated at a lower interest rate. I inquired already. I am struggling with 0/month payments and can’t use home equity money because my home is devalued. I have 4 Parent Plus Federal Student loans at interest rates from 6.5 to 8.5%, yet home mortgage interest rates are as low as 4% and in some cases, lower. Why this difference and who is profiting so much? It seems that consumers who have invested in education of their children should not have to pay high interest.
Tuesday, 1. February 2011
we bought our first home in PA, instead of having a traditional home loan of fixed rate for 15%, we took out a loan called HOME EQUITY, 15 years fixed at 5.74%. the monthly payment is 65 (principle & interest only).
We pay property tax & home owner insurance separately; it is 6 per month. Only my husband works, his monthly paycheck is about 00 before taxes.
As of now, our loan payment plus property tax & home owner insurance total is 71 per month.
Are we qualify for loan modification? How do we apply?
Friday, 21. January 2011
Hello everyone. I am purchasing a house but the loan I could get was FHA because i did not have 20 % down and not enough credit for conforming loan. I could put 15 % down on the house but my question is whether i should do that or go with the minimum of 3 % because with FHA loan you pay premium mortgage insurance 1.5 % upfront and .5 higher interest rate. Lets say if i build a better credit in 6 months to qualify for a conforming rate and refinance the house from FHA to conforming do i need to have 20 % down for conforming loan or should i put the money to FHA loan and that 15 % is counted as home equity. All I need is 5 % after that right or do i need to have 20 % in cash?
Thursday, 30. December 2010
I want ,000 to put toward a home improvement project.
HOME EQUITY TERMS – 5.85% FIXED APR for 60 months.
CREDIT CARD TERMS – 3.99% FIXED APR for 60 months.
Which would be a better decision and why? THANKS!
Thursday, 23. December 2010
I am planning to buy a new house. What would be better, to take two loans (primary and secondary) on the new home, or to take one loan and home equity from my first home (which was paid in full) to put into the new house?