Easy Home Equity Loan

I will be living in the second house when I am working at my job and go to my original home for my days off.

If it is not tax deductible, is there any tax breaks for being forced to move away from my home because the economy is much worse there than the average (according to media and government reports).

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…savings at 3%?
With everything going on in the market would it be better to just put any extra money in a savings acct just in case I lose my job in the future? Is it safe to assume I can just take out money on the HE loan if I need the cash? Credit score is very good and value of equity in the home is about 80% paid off.

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Will only have the house for two years then will transfer due to job. So want to know if it is better to pay the monthly amount to mortgage company and invest the money; or pay off the mortgage in full.

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Hey all!

I need a little advice about how to reduce stress and feel less overwhelmed. I’ve basically been running beyond capacity for several years now and its really starting to get to me. Basic background info:

I work full time as a loan collections officer. It often times can tug at your emotions since a big part of my job involves foreclosures and repossessions. Its quite demanding and you basically have to deal with people all day who hate your guts.

I also go to law school and this takes a considerable amount of time (as you can imagine).

I also have a wife at home and being a strong husband is a high priority of mine.

To top it off, we’ve been trying to find a house to purchase since we’re both approaching our late twenties. I thought it may be wise to attempt to build equity and invest – especially since real estate is a buyer’s market with very attractive interest rates. We’ve been looking for two months and finally made a bid on a house but we were outbidded. As such, we’re now back to the "drawing board."

Anyway, I’m not asking for a pity party – but I could really use some suggestions about how to reduce my stress and sense of being overwhelmed. Any ideas?

Thank you for your time!

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my credit score is very low but i own a ,000 house with no mortgage. i am looking for some kind of loan so i can do major repairs on my house but i keep getting turned down due to my credit. i have been at my job for almost ten years and make around 0.00 a week.

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I have an 80/20 loan. The 80 is an ARM with a 10 yr libor that had a 6.25% that went to an 8.25% in Feb. The other loan is a 30 yr fixed with an 8.25% rate. My husband is active duty military, so we qualify for the SCRA which locks us in at a 6% rate for as long as he remains active duty, which he intend to do for 20 years. Because we moved for his job, we had to rent out our townhome due to decreasing mortgage prices. We want to refinance to lock in our interest rates, esp since they are now in the 5.75% ranges and make our loans just one. We were told by our lenders (citi) that we have no equity in our home, therefore do now qualify to combine loans, and that refinancing cost will be around 5,000. Also it will be different considering the home is now an "investment" since it’s being rented. So my ? is do we keep the loan we have since we’re under the SCRA, or do we act now and go for rates that are low.And if so, how do we go about gettin a loan that doesnt require much to put down

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Not sure if mortgage interest deduction is allowable beyond a certain amount of mortgage debt (for tax filing status = single).

I do not plan on renting out either of the properties. One would be my primary residence (vacant), and I would be living in the 2nd property in another state (because I had to relocate for a job).

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Hi,
I went to interview today with a Mortgage funding company. For a loan broker ! What questions do i need to ask ?
Thanks,
Frank
For a job.

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