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Tag Archives: Equity Loan
I have a mortgage and a equity loan on my condo. I owe more than it is currently worth. should I forclose?
JB 007 asked: A friend tells me to just foreclose … but I want to keep a roof over my head … All my earnings are going into the home, there is no savings and I just lost my job!Lynn
Posted in Renting & Real Estate
Tagged Earnings, Equity Loan, Job, Lost, Mortgage Loan, Roof Over My Head
3 Comments
How do I buy a new home before I sell my home?
breezy_otay asked: I currently own my home (no mortgage) and have found a bank owned foreclosure in great shape that I want to buy to live in. To purchase the property I would have to sell mine. I want to … Continue reading
Posted in Renting & Real Estate
Tagged Bank Foreclosure, Bank Owned Foreclosure, Bridge Loans, Buy Sell, Equity Loan, Great Shape, Mortgage
8 Comments
Should I raise the equity limit on my second mortgage loan or just refinance?
I M asked: I want to purchase a home in San Diego, but I have limited income. My current first loan (70,000) is a VA loan, and I have a second ($3000). I only have $5000 on hand for a … Continue reading
How do “Refinance” companies make profit on equity “interest only” loans?
Michael K asked: Last year, I was compelled to agree to an interest only equity home loan. I paid cash for my home 2 years prior, and owned the home without mortgage of any type. Now, I am paying off … Continue reading
Invest in Roth IRA or use more Home Equity for Rehab Project?
OP-lo asked: I currently have a stash of cash in a money market earning 3.61% APY. I also have a home improvement project set to start later this month. I have enough cash to cover about 40% of the project. … Continue reading
Posted in Investing
Tagged 100k, 30 Yr Mortgage, Cash Money, Downside, Equity Line, Equity Loan, Home Equity, Home Improvement Project, Invest, Investments, Job, Refinance Loan, Rehab, Roth Ira, West Coast
5 Comments
what happens to us if we want to sell a house with 2 mortgages and an home equity?
WhoK asked: We have 2 mortgages (1st & 2nd), my friend withdrew an other line of equity. What happens to the equity line loan if we sell this house short? Can we ask the bank to convert equity loan to … Continue reading
Is there anywhere to get a equity loan to save my home even though now I have terrible credit?
comestiblebeauty asked: I am facing foreclosure. I’ve lost my business. I have a new born son and two school age daughters. I want to either get a loan to pay up the past due portion of my mortgage to start … Continue reading