Saturday, 21. August 2010
OK heres the deal… I have bad credit however i have my own house all paid for, nothing owed. I need a new car since mine decided to freakin blow up! I tried with Bank of America to get a home equity line of ,000… which was the min, and they denied me because of my credit. I HAVE COLLATERIAL! Anyone know where else i should apply? or am I just basically screwed? You would thing that my house is all paid for that someone would give me a home equity loan…I am trying to avoid going to a car dealership to finance due to the interest rates…Thanks for all your help! any suggestions are also welcome
Interesting Blogs
Tuesday, 27. July 2010
Here’s the thing, I’m getting ready to turn 21 in a month and I’ve only got less than 1 year or credit history. My dad wants me to "buy" our family house (which we just finished building) so that we don’t loose the house (they can’t afford it as of now). He says that he knows someone that can get me the loan (for 500 freaking K) and that they (my parents) will be paying all the bills.
I am getting married in spring 09 and my dad is going on disability in a few months. this house is sitting on an acre lot, he wants to have the house on my name for a while until it builds up some equity (that’s gonna be hard since we are in Sacramento, CA right near the epicenter of the housing collapse) and then split the land using the equity money and build another house that will also be in my name and then only God knows what he will want to do afterwords!
I don’t want to forsake my family and not go through with it but holly crap this is extremely risky and possibly illegal. If I can get the loan and my parents are not able to pay it then my wife(to be) and I are royally F#@&#D sideways in the **** but if all goes well then we wont make much off of anything since my dad is gonna want compensation along with a new car and anything we owe the bank(s).
so, what do ya say? should I go full steam ahead or graciously bow out?
Thanks for all answers!!!
God Bless =)
Interesting Blogs
Sunday, 11. July 2010
OK heres the deal… I have bad credit however i have my own house all paid for, nothing owed. I need a new car since mine decided to freakin blow up! I tried with Bank of America to get a home equity line of ,000… which was the min, and they denied me because of my credit. I HAVE COLLATERIAL! Anyone know where else i should apply? or am I just basically screwed? You would thing that my house is all paid for that someone would give me a home equity loan…I am trying to avoid going to a car dealership to finance due to the interest rates…Thanks for all your help! any suggestions are also welcome
Interesting Blogs
Sunday, 11. July 2010
OK heres the deal… I have bad credit however i have my own house all paid for, nothing owed. I need a new car since mine decided to freakin blow up! I tried with Bank of America to get a home equity line of ,000… which was the min, and they denied me because of my credit. I HAVE COLLATERIAL! Anyone know where else i should apply? or am I just basically screwed? You would thing that my house is all paid for that someone would give me a home equity loan…I am trying to avoid going to a car dealership to finance due to the interest rates…Thanks for all your help! any suggestions are also welcome
Interesting Blogs
Friday, 9. July 2010
OK heres the deal… I have bad credit however i have my own house all paid for, nothing owed. I need a new car since mine decided to freakin blow up! I tried with Bank of America to get a home equity line of ,000… which was the min, and they denied me because of my credit. I HAVE COLLATERIAL! Anyone know where else i should apply? or am I just basically screwed? You would thing that my house is all paid for that someone would give me a home equity loan…I am trying to avoid going to a car dealership to finance due to the interest rates…Thanks for all your help! any suggestions are also welcome
Interesting Blogs
Saturday, 19. June 2010
my wonderful parents are lending me money to buy a new car, and they plan on borrowing the money from our home equity line. they said the interest rate is much lower, but my mom wasnt sure if they charged interest every year like a normal car loan or if it was ultimately much cheaper. anyone know? first good answer by sunday gets the ten.
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Sunday, 2. May 2010
My husband and I need to lower our monthly payments. We have no debt except a line of credit for ,000 with the payment of 0 and two car loans both adding up to about ,000 and the combined payment of 50/mo. So, we are spending about 00/month for these 3 things. If we got a loan for 0,000 and payed all these off, our payment at 6.6% would be around 0/month. Of course I would always pay more than that per month which would go to principle. Why isn’t this a good thing to do? I realize that getting a new car would add to our payments once again. So, that would not be smart. Other than that, is this a smart thing to do? It seems like it is, but then why don’t more people do this?
Interesting Blogs