Easy Home Equity Loan

I’ve always had very good credit score. 11/2007 was 725. Today it’s 680 and going down (I’m sure). Owe about 43000 in credit cards, have 2 mortgages and 2 401k loans. All taken to put children through college and help with their finances. Was doing will however over the past 10 months, 2 of the children lost their jobs and now I’m in financial trouble.The creditors are constantly calling, I’m only late by 2 wks, however do not see a way to now pay for 2 months and late fees too, pluse interest rate was jacked up. This is a nightmare, depressing and embarrassing. I need some help/advice as to what are my options. Tried Home Equity but qualify for high interest which only buys me a little time before I’ll be back in trouble again. I just can’t make ends meet anymore. Pl help soon.

Interesting Blogs

I had 2 mortgages, 80/20, with one company.. I am current on the first, but defaulted on the second and the mortgage company had their own PMI on the second.. They filed a claim for it and the mortgage company was paid of, they actually sold it to AIG United Guaranty. They are calling me saying that they are going to foreclose on the property.. I owe the ,000. The first mortage is ,000 what will happen? How can they foreclose for 18 when I still owe 70?
I understand the second mortgage can foreclose the property, I stated that.. What I want to know is how common is it to foreclose for 18000 when 70000 is still owed. Doesn’t the 1st mortgage have priority?

Interesting Blogs

and you’re not renting out your old home? i see people buying new houses all the time and i wonder how it works. do you pay two mortgages till you sell your first house? what hapens ifyou never sell your house? can the bank sell it for you and apply the money to the new house?

Interesting Blogs

we have a 2nd home will my interest go up while my credit go bad and insurance rates go up will credit cards will be cancelled.we can afford two mortgages but it is scaring me when we have nothing left at end of month.will we be labeled as fraud since we make enough money.the house we want to foreclose is our rental property. what are the process the bank will do ,also we took a equity line on the rental property can we ask the bank where we took the equity to just make it a personal loan should we hire an attorney

Interesting Blogs

Good morning, my house was foreclosed on in 2005. At the time I had two mortgages, the first one was satisfied and I’m now finding out that the second mortgage was not. I am ready after four years to purchase another house, but I’m afraid the second mortgage may put a Lien on my house. Is there anyway out of this? Thank you
Pay if off, sounds logical but we are talking ,000.
Pay it off sounds logical but we’re talking ,000

Interesting Blogs

If a property has a 100k first mortgage and 30k second mortgage, is foreclosed on and sold to an outside bidder for 90k at county courthouse auction…..so, the buyer(bidder) owns the the house for 90k, What happens to the two mortgages….do they dissapear?

Interesting Blogs

What happens to the two mortgages when the foreclosed property sells at a county courthouse auction?

Interesting Blogs

we have 20% of the house price in the bank but we dont really want to use it, as it would be all we have. would rather invest it and get 10% back a year in mutual funds or something. but i dont know if this is a good idea or not.

is getting a second mortgage to cover down payment (in order to avoid PMI) a good idea? what are the dangers of a second mortgage? how does paying it off work? are you able to refinance both mortgages eventually into one mortgage? would be save more money (in fees and such) by just putting down the 20%? or is it better being invested?

thanks for your help.

phoenix, az – first time buyers

Interesting Blogs