Monday, 6. September 2010
The 2nd is with WAMU. I am getting conflicting info from various parties, from lenders to attorneys to friends and need a way to find out for sure. Thanks.
Thursday, 2. September 2010
I am searching for financing to make home improvement repairs, I submitted a request for a home equity loan through lending tree. The lenders throwing out terms such as 1st mortgage, 2nd mortgage, and home equity loan.
Sunday, 15. August 2010
I owe 2 houses one under my name, in the rental property I am 1 payment behind in the first deed and 5 payments behind on the second deed. I can’t make the payments no more, I am in home loans, and my paycheck has been reduce soo much. I want to keep only my owner occupied property and let go the rental. Balance is 0,K and 0K on second. I been thinking on calling the lenders to give them the house back, some other friends tell me to do a shortsale, and other to file bankruptcy or forclose the property. at this point all I want is not to have ,500 mortgage payment a month. I can’t refinance because there is no equity, and my credit has been ruined due to the late payments, I don’t want to go to a credit consultant because my intentions are not to keep the house. I need some advise before I go to an attorney .
Thursday, 12. August 2010
My credit isn’t perfect and I want to get a home equity loan. What are the qualifications? What lenders look at if you have bad credit? How can i increase the chances of getting one, without waiting for credit to go up?
Would appreciate if you can answers even one question. I am desparate for good information. Thanks!
Saturday, 7. August 2010
We will be listed as "entering foreclosure" until September, but have already made 5 consecutive payments into the forebearance plan, including a large down payment. However, in order to get our finances in order and pay education costs, we need to take out a home equity loan. Will lenders approve the loan (if we have one great credit score, one bad, and a good income) in our current state? Or would it be rejected outright?
Friday, 30. July 2010
I took a home equity loan out a while ago and in this market, my equity has dropped considerably.
If I were to sell my home, I could pay off my 1st mortgage, but I’d still have a balance of about ,000-,000 on the 2nd mortgage. Do lenders transfer 2nd mortgages to a new home?
Saturday, 24. July 2010
I recently have decided to pull some money from my house for a few different reasons. I have had one of those years where some bills have gone unpaid and have gone to collections, not my best year but I am sure we have all faced this in our lives.
My credit score has hit as a mid score a 585 which is below the guidelines for some lenders to allow an Heloc. My home value is about 500 K, and the loan pay off is about 250 K so I do have the equity in the home for the loan but just not the credit score.
I have looked at a Refi but would suffer a prepayment charge from the lender that is around 8 K as well as another 10 K in closing costs etc….etc… I would like to do a Heloc and I am not really concerned so much about the interest rate on the deal as I will plan to sell the house in the next year.
I am looking for a company that does that kind of lending.
Any suggests my yahoo answer friends.
Wednesday, 21. July 2010
What is a debt to income ratio to qualify for Home Equity Loan / Home Equity line of credit.
What if I go to mortgage brokers who have access to "B" type lenders at higher rates?
Thanks guys!