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Category Archives: Renting & Real Estate
How would you finance a vacant land purchase with this scenario?
Michael G asked: I have a current mortgage of $135,000 on my primary residence. This single family home is valued at $300,000. I want to buy a piece of vacant land for $145,000. I have $40,000 to put down on … Continue reading
I have a 30 yr. fixed 1st mortgage of 160K at 5.875% and a 20 yr. fixed 2nd mortgage of 40k at 9.00% since ’03
Spaghetti asked: I’ve bought it in April of 2003 in Kihei,HI at 201K.The value of the condo now (Feb.’08) is approx. $350K or even higher.Now,what I would like to do is either combine the 2 mortgages into one or pay … Continue reading
Using 1 Home Equity to Pay for Another Home Equity?
ginger79 asked: I currently own 2 properties; 1 is being rented and another one I live in. Both properties have equity of line of credit loans. I almost paid off the loan on the first one that is being rented; … Continue reading
Sell home and walk away with 0, or short sale, or quit claim deed?
hyr asked: We have to move. We have a mortgage of $280,000 and a $20,000 home equity loan. IF we can sell it, we’d probably walk away with nothing, 0 cash after closing. Since that’s not helping me, why not … Continue reading
Posted in Renting & Real Estate
Tagged Babies, Fences, Grave Danger, Home Equity Loan, Mortgage, Quit Claim Deed, Safe Place, Safety Issue, Seawall
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can i use my homes equity to purchase investment property?
Maria M asked: i have a 1st and 2nd mortgage on my home but i have enough equity to purchase or place a down payment on a second home. i’m looking at refi the 2nd mortgage for a line of … Continue reading
Posted in Renting & Real Estate
Tagged 2nd Mortgage, Equity Investment, Investment Property
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My mortgage broker wants to submit my paperwork to another lender?
are we there yet asked: Is this normal?? Does that mean that the other lender has denied me?? She said she is still working with the first lender, but she thinks that this other lender might be able to give … Continue reading
I have a 30 yr. fixed 1st mortgage of 160K at 5.875% and a 20 yr. fixed 2nd mortgage of 40k at 9.00% since ’03
Spaghetti asked: I’ve bought it in April of 2003 in Kihei,HI at 201K.The value of the condo now (Feb.’08) is approx. $350K.Now,what I would like to do is either combine the 2 mortgages into one or pay off the 2nd … Continue reading
Is this right.foreclosure after spending equity loan?
iDork asked: Say I purchased a home before the housing boom so it was bought at a reasonable price. Then the boom happened. My house went up in value about $200,000 and so I took out a 2nd mortgage/equity loan. … Continue reading
Questions about capital gain and the USDA Rural Development Loan?
Lacey asked: My husband and I have had our house since June of 2008. We need to relocate and worry about selling our first house. Question #1—How do capital gains work? Our purchase price was $80,000. Which, was a seemed … Continue reading
Posted in Renting & Real Estate
Tagged Capital Gain, Capital Gains, First House, First Time Home, First Time Home Buyers, Government Website, Home Equity Loan, Inheritance, Map, Money, Original Mortgage, Personal Insight, Time Home Buyers, Usda Rural Development, Usda Rural Development Loan
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