Monthly Archives: September 2010

2nd Mortgage after Bankruptcy: How to Qualify for a Competitive Home Equity Loan

Louie Latour asked: Taking out a second mortgage after a bankruptcy can help you reestablish your credit. Because your home is used as collateral, you will have a much easier time qualifying for decent interest rates when you have bad … Continue reading

Posted in Real Estate | Tagged , , , , , , , , , , , , , , | Leave a comment

Need a home equity or persoanl loan asap?

malibuphile asked: bad credit (under 500) three mortgage lates. Life hit us hard but are trying to get back on our feet. Just need a chance. Anyone know a co that would provide a loan with these perameters?Edith

Posted in Renting & Real Estate | Tagged , , , , , | 2 Comments

Understanding Home Mortgage Loans

Gail Anderson-Metcalf asked: The price of houses keeps rising across the US. Since most require a down payment that is more than a renter can afford, how do you become a home owner when you don’t have the savings to … Continue reading

Posted in Finance | Tagged , , , , , , , , , , , , , , | Leave a comment

Refinancing Your Mortgage Or A Home Equity Loan – Which Is Better?

Joseph Kenny asked: When it comes time to get the money you need to renovate your home, you have some choices to make concerning the financing of it. Both ways, either refinancing your first mortgage, or a home equity loan, … Continue reading

Posted in Real Estate | Tagged , , , , , , , , , , , , , , | Leave a comment

Why are borrowers STILL defaulting on mortgages, even though Obama is subsidizing their loans?

Mousey dung asked: Maybe we should now start paying these people’s alimony, credit cards, and car loans too, what do you think? excerpt… The number of homeowners who defaulted on their mortgages even after securing cheaper terms through the government’s … Continue reading

Posted in Politics | Tagged , , , , , , , , , , , , , , | 10 Comments

1st mortgage for a home thats paid in full?

J asked: bought a home for 45k.in michigan back in november so its been about 5 months. every bank is telling me that you have to reside in the home for 12 months in order to use the market value … Continue reading

Posted in Renting & Real Estate | Tagged , , , , , , , , , , , , | 3 Comments

The Difference Between Home Equity Loans and Home Equity Line of Credit

Connie Barker asked: Using your home equity is a very savvy way to borrow large sums of money at a very low cost. While there are different types of loan products that lenders offer, the two most common and popular … Continue reading

Posted in Finance | Tagged , , , , , , , , , , , , , , | Leave a comment

We are buying an investment property. With little to put down, what is the best way to finance the property?

Michael K asked: We have a large amount of equity in our current house. We have no bills other than the mortgage on our current house. Is a home equity loan to get to the 20% down payment and then … Continue reading

Posted in Renting & Real Estate | Tagged , , , , , , , | 4 Comments

family owes me $$ 4 my share of house i am entitled 2 a part they took equity loan twice i got nothin wat 2 do?

true_baseball_fan asked: My older sibling has taken out close to 100 grand on the house on 3 different home equity loans. im excluding the first cus it was small amount and had nothing to do with me. the 2nd loan … Continue reading

Posted in Renting & Real Estate | Tagged , , , , , , , , , , , , , , | 3 Comments

Why Second Mortgage Rates Are Higher for Home Equity Loans than 1st Mortgages

Maria Ny asked: Home equity is the difference between what you owe on your mortgage and the fair market value of your home. Cashing out on home equity for debt consolidation is continuing to gain popularity. The typical way to … Continue reading

Posted in Real Estate | Tagged , , , , , , , , , , , , , , | Leave a comment