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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Tuesday, 31. August 2010
We are relocating to another state but currently have a home. My husband’s job is relocating him but the package does not offer any help with buying/selling home. So, were stuck with that burden. We are in the process of putting our home in the market in hopes that it will sell but can’t afford two payments. Any suggestions and help would be appreciated?
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Wednesday, 25. August 2010
My wife and I are both self employed less than two years, and we were told that makes it impossible for us to get a Home Equity line or loan given what we want and where are scores are (we want about 85% LTV and our middle scores are between 620-650). I was told by a loan guy at a major bank that this would have been possible several months ago, but since the real estate market went downhill restrictions are much tighter. It is important to note that we are both 1099 workers with large companies, not people who started up a new buisness (although we are technically self employed). The man I spoke to said that he understood the distinction but the underwriters are very rigid about the rule. He said that if I really wanted the loan I could go out and get a W-2 job and he could get me approved as soon as I got my first check. Any advice?
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Sunday, 22. August 2010
My MIL asked my husband to refinance her home loan with her so that she can get a lower interest rate. She owes a home with my husband’s brother. She refinanced her home a few times and now she has an interest only loan, so she’s not building equity.
We own a house too, have a child in private school and I resigned from my job to start my own business. Interestly enough, she spoke to my husband about the refinancing the day before I resigned from my job and I am pretty sure I told her when I was going to resign. Why gives her the right to come to my husband and ask him for such a huge favor? My MIL and BIL are unable to handle the responsibily and need to sell the house ASAP
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Wednesday, 28. July 2010
This happened about 2 years ago and we are now looking to sell due to job loss. If I find out there is actually a second mortgage and we are now financed over the value of the house do I have any recourse against the broker firm?
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Monday, 26. July 2010
Home Equity Loans on Short Sales gone to collections?
Readers Digest Version: My wife and I purchased a duplex in Kansas to rent out. I lost my job due to a work related injury. We had to short sale our primary home in California and the duplex in Kansas. Once the sales were finished, everything was fine until I received collection calls on the seconds on all three properties. Im confused, how and why can they now attach debt to me even when they were lines of credit on homes that are now sold….HELP
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Wednesday, 14. July 2010
If you own a house assessed at about 400k, how much down payment would you need to put on a house costing in the 800k-900k, and how much will be a typical monthly mortgage. Also, do you need a solid job to get a mortgage on your second house if you own your first house? Thanks to all.
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Tuesday, 22. June 2010
Okay so my mom and her sister own a house together. It was my grandparents house and they inherited it when they died. My aunt has been freeloading and living in there for FREE for the past year and a half. She doesn’t even have a job. Anyway my mom is ready to finally buy her out since her sister doesn’t have the means (obviously) to do it herself. What is her first step? Its not going to be an easy road since my aunt is playing the victim card and cant believe my mom would be trying to buy her out. Does my mom need to get a lawyer? Or just a real estate agent? What should she do first? Is this going to be generally easy? Also, does my mother need to qualify for a loan to buy her out? (since there is equity because the house is paid for)
Thanks for the help!
To answer your question- my mother does want to buy her out. I’m pretty sure that her sister will begrudgingly agree because she doesn’t really have a choice you know? Her sister isn’t holding on for any reason other than its a free place to live. So my question is I guess can she just go find a real esate agent to do an estimate and what not? I guess if she doesn’t agree then she’d have to get a lawyer and all that. Supposing that wont happen what steps should my mom take?
They both do no live in the house. My aunt lives there with her cousin…and she charges her cousin rent! And nothing is paid to my mother at all. Her cousin also pays for all of the utilities.
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