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smithsussane
Joined: 18 Sep 2008
Posts: 10020
Location: Alaska
917.78 Dollars($)
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Hi carolina dreaming!
Welcome back to the forums!
Yes, it will be a good option to pay off the car loan. Moreover it will also help you to improve your debt to income ratio. Once you pay off the car loan, I feel you will be in a better position to get another loan.
Feel free to ask if you have further queries.
Sussane |
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travon
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Post subject: equity line of credit |
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| i bought a home a year ago for 200,000. Going into it I had 80,000 worth of equity with the mortgage crisis I have no equity in my home because property value went down. I've been late on a few credit card payments but recently bought a new Truck. Can someone tell me how I can still go about getting a equity line of credit to pay off some bills |
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Niicss
Joined: 03 Oct 2005
Posts: 4770
Location: New Jersey
499.28 Dollars($)
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Hi travon
With no equity in the property, you will not be getting a equity line of credit on your property. If you want to consolidate your credit card bills, you can look out for a debt consolidation company. They will help you in getting a debt consolidation wherein the interest rates will be reduced. I know a debt consolidation company - "debtconsolidationcare.com". You can visit their website and speak to their financial coach and see if they can assist you.
Thanks.
_________________
Good is the Enemy of Great. |
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anyone
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Post subject: re: home equity |
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| my home has been for sale..I would rather pay debt and stay...is there any one who will give an equity loan if I take if off the market...the house is worth 1450.00 and I have a 750,000 mtg on it |
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adonis
Joined: 22 Oct 2005
Posts: 10242
Location: ALASKA
1042.50 Dollars($)
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Hi anyone,
You need to have equity in the property in order to get a home equity loan. If you don't have the equity, lenders would not give you a loan. I guess you are delinquent in your mortgage payments. You can speak to the lender about loan modification and check out if you can take advantage of it. This will also help you in saving the property.
_________________
Procrastination is the enemy of your financial success |
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anonymous1
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Post subject: finance |
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| describe a situation using long-term financing |
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Niicss
Joined: 03 Oct 2005
Posts: 4770
Location: New Jersey
499.28 Dollars($)
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Your question is not clear to me. It would be better if you could specify your situation.
_________________
Good is the Enemy of Great. |
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anonymous25
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Post subject: deeds and mortgages |
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| if the house is owned by several family members in a trust, and one sibling wants to take out a heloc (and will qualify) does everyone on deed need to sign? |
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Niicss
Joined: 03 Oct 2005
Posts: 4770
Location: New Jersey
499.28 Dollars($)
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The loan will be given on the property as a whole. The lender will want owner of the property to borrow the loan. The family members may transfer the property to the sibling who can buy them out by giving them a certain sum of money. Then he/she can take the loan on that property.
_________________
Good is the Enemy of Great. |
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Chris 05
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Post subject: 90% home equity lines of credit |
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| I am looking for a 90% cash to value home equity line of credit...i have very good credit and am wondering which lender will give me a 90% loan.... |
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jameshogg
Joined: 20 Dec 2005
Posts: 10148
Location: Nevada
941.94 Dollars($)
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Hi Chris,
Lenders generally do not give such a high cash to value home equity line of credit. However, as you've a good credit score, you may apply for such a loan. It would be completely the lender's discretion whether or not you would get such a loan. You may even speak to the lenders of this community and seek a no obligation free mortgage consultation from them. This will give you an idea whether or not you would get the loan.
Thanks. |
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heloctalker
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Post subject: residing time frame |
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| Is it possible to buy a home and recieve an debt consolidation home equity line of credit of 100% LTV after 1 month of living there if the house has available equity |
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smithsussane
Joined: 18 Sep 2008
Posts: 10020
Location: Alaska
917.78 Dollars($)
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Hi heloctalker!
Welcome to forums!
I do not know about a debt consolidation home equity line of credit, but you may qualify for a HELOC if you have the required equity in the property.
Sussane |
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dantheman
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Post subject: home equity loan |
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| i own a house and buying another house i want to know if i should borrow money on a home equity loan or line of credit and is it worth it, better than paying pmi please help thanks |
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jameshogg
Joined: 20 Dec 2005
Posts: 10148
Location: Nevada
941.94 Dollars($)
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Hi dantheman,
As you already have a mortgage on one property, it would be difficult for you to buy another home taking a new mortgage. Lenders may not be ready to give you a mortgage. You may take out a home equity line of credit in your present property to pay the down payment. Thus, you won't be liable for making the PMI payments on a monthly basis.
Thanks |
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