Easy Home Equity Loan » mortgage

I have a mortgage on a house, along with a Home equity loan. Can I do a land contract with my renter?

admin — Fri, 09 Sep 2011 02:41:07 +0000

She wants to buy it, but can’t get a loan. She’d like do to a land contract. BUT, since i have a Mortgage, in order to do a land contract, wouldn’t i have to pay my mortage and HE off? Doesn’t the renter become the owner when the land contract is done? Which means, I’d have to pay the mortgage and HE off in order for her to have a clean title?

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how does a home equity loan work?

admin — Mon, 29 Aug 2011 07:27:34 +0000

i own a house i paid 20000 cash for it and dont have a mortgage and i think its worth 25000 now. can i borrow the equity to purchase another 20000 house? my credit is only 550 so i dont think i can get a mortgage and my monthly income is only about a 1000 per month. any ideas i want to buy the house and rent it out. thanks

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I may be transfering for my job, I own a home now would I qualify for a second mortgage?

admin — Thu, 25 Aug 2011 06:38:26 +0000

We own a home were we are now and we owe about 0000 the house is probably worth 0000. We may be moving for a job opportunity and are overwhelmed with the thoughts of what to do with are current home and whether we will have to rent a new home in the new location. Rental prices appear to be higher then if we bought. However, im not sure if we would qualify for a mortgage for a second home so we could rent out the house we are leaving. About a 630 credit rating. We also have pets we are not willing to get rid of which seems to be a small issue. Should we consider a short sell and consider buying in the new location. So confused about what to do. Overwhelmed, need advice.

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Do you think I would be able to get a second mortgage with $125,000 a year plus bonuses?

admin — Mon, 08 Aug 2011 09:05:02 +0000

here is the deal: I own a house that I owe 37,000 dollars on. I make 5,000 a year plus bonuses. I want to get a second house for 0,000. but I had a few mishaps and my credit is now in the 580-600 range. Now I’m ok everything is paid up and on time. For right now I will be still paying on the first house. My payment is 6 a month, and I have college bills of 5 a month, and a truck payment of 0 a month and pay 0 a week in child support. i have 2 credit cards in which i don’t even use. Can I get a mortgage and if so how much down would I have to pay? Any suggestions about anything would be helpful..

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Refinance Mortgage or Home Equity Loan?

admin — Sat, 06 Aug 2011 14:46:21 +0000

I need to get some home repairs done and have the option to refinance my mortgage at the same rate (6%) for 30yrs or go the Home Equity loan route with 7.85% for 15 years. Does anyone know if one option is better than the other in the long run?

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Is it a good idea to refinance? Also, I would like to include our home equity loan if that is a possibility?

admin — Mon, 01 Aug 2011 00:47:44 +0000

We have only had our mortgage for 3 years now.

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Can I get a home equity loan/line if I don't reside in home but am on deed?

admin — Tue, 26 Jul 2011 21:52:23 +0000

Hello,

My parents own a home outright (no mortgage). I signed on to the deed of the home but I own my own home and reside in it. Can I get a home equity loan on my father’s house in my name?

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is there anyone that would give us a home equity loan with poor credit?

admin — Wed, 13 Jul 2011 02:42:35 +0000

my boyfriend and i own our home in ny state without a mortgage. we currently have poor credit scores and want to do a home equity loan to pay back back taxes we owe on our property! is there any lender that could possibly approve us for a loan due to our poor credit?

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Would you take this loan?

admin — Wed, 13 Jul 2011 01:15:34 +0000

we are debating because of our situation whether to take this loan or not. we have applied elsewhere, and this is all we have been offered.
we are 30k in debt want to consolidate and lower our interest rate. our payments in total average 1100 a month and interest averages 15-21%
the loan presented to us, is 50K , 5% interest only ( of course we would pay down on principal) 25 years ( our intent is pay off all within 10 years.) the difference of the 30K would be available to us like an a line of equity. Our concern is that shortly I will be without of a job because they are closing down in 4 months and we have a mortgage. We plan on selling our house but this will be a short sale because the value is less than we owe by 20k.this was not due to our home loan we had fixed, but our area was the highest hit in foreclosure thus the value decrease! please no rude comments we are extremely stressed.
the reason we are taking 50K is not because we need the additional amount but to help our credit. If we take 30k it looks as though we maxzed out on a 30 k credit card, whereas if we took 50K (which is a line of credit) then it looks better. If I am incorrect please tell me.
MORE IMPORTANTLY TOTAL CLOSING FEES AND BROKERAGE FEES 6,500!
this is in no way part of the home loan, its a personal line of credit.

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Should I still be paying on my second mortgage?

admin — Tue, 12 Jul 2011 09:02:07 +0000

Ok , my home forclosed,, I had 2 mortgages (from the begining) the second h. mortgage is in collections , I am trying to make payments. Basically only what my payment used to be but I am still behind 2 to 3 thousand dollars. They want the 3 thousand but I do not have that kind of money. They want the money before they will attempt to lower my 10.75 percent intrest rate to they say they’ll lower it to 5 % or 6 % (but I think it should be no more than 3%) I do not have the home anymore.
It two different banks and the one I still owe is the leeser amount
The home is forclosed.. Gone realator has it
I couldn’t even afford the bancuptcy, plus a lawyer said I’d lose the home wheather I filed or not. So I never did cause I couldnt afford it and I didnt want to borrow money if I was going to lose the house anyways
So will paying the monthly payments , wouldn’t that look better on a credit report? I do though have others bills not being paid such as the last water, electris, and gas bill from the house