Jessica D asked:


After selling my house I will probably still owe about $20,000 on my home equity loan. I have no problem making the payment each month and I would like to continue on under the same terms as I have now. I am afraid that if I sell the house the mortgage company will demand the $20,000 right then and there. Does anyone know if you can just keep on paying under the same terms as you took out the loan? I.e. I just keep paying the $400.00 a month until the loan is paid off?

GUILLERMO

Jules B asked:


Can I borrow out of my equity? Would it be a home equity loan or something else? Then when I sell my house, how would I pay off the mortgage and convert the equity loan into my new mortgage?

ROBBIE