I have 3 liens on my home – 1st Mtg, 2nd Mtg & Credit Line.
The first is not bad – 157 k , the 2nd – 76k with Bank of Amer,
and the credit line – 22k with B of A also. Total of 258 K in lien,
and homes like mine are not selling in MA right now, and Fair market value for my home is around 240. My ltv is around 105 to 108- depending upon actual appraised value – Refi’ing is not an option – LTV too high. It would take us at least 12-15months of radical debt paying to get even with the market,
It’s not exactly the area where we want to stay long term and raise kids, and we are in our mid 30′s right now. Feel a bit stuck. Right now we have enough money coming in to pay the bills, but we feel like we have nothing to show for it – we are not crazy about living here, I feel for the type of home we have, we are way-over paying for it – it’s a ranch on a slab for heaven’s sake. Tapped into the equity way too much with the 2nd and the credit line, and big-time regret it. Ideas??

Home sweet home. Home equity loans are loans which help one in using their home to get money needed. Fortunate are the people who have home of their own. Bad credit home equity loans are available against the home of borrower. It helps in securing funds in a much easier way at more competitive rates for the borrowers.

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has anybody found a lender that will provide a consolidation loan even with bad credit based on income? i don’t know where to begin and i’ve tried credit counseling, but they don’t help.

If you decide to consolidate your debt yourself, you can aid your debt consolidation program by requesting a home equity line of credit that will give you all the finance you need to cancel small but expensive debt while negotiating other more important debts with your creditors.

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The number one reason why some homeowners have difficulty getting a home loan is because of bad credit. In my company, we called it bad credit home equity loan.

If you have bad credit and is trying to repair it, it helps to understand how credit score is tabulated and the factors going into it.

Credit score or FICO is created by Fair Isaac Corporation. It is a value that is used widely by many lenders to determine the interest rate that you will be charged as the homeowner. The score value range from 300 to 850. The lower your credit score, the higher your interest payment will be. Bad credit loan applicants usually have a score lower than 600.

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i want to consolidate 1 personal loan 2 CCs and an extra bill i want to get rid of into one loan…totals out to be about 4400 dollars. Whats a good loan if i have bad credit

Home equity loans are one of the most popular financial products among Americans. There are many different reasons which make them so accepted and sought after. For example, a home equity loan can be used for any purpose whatsoever. Whether you want to remodel your house, buy a new car, consolidate your outstanding debts or go on a trip, this type of loan can make it happen. What is more, these loans are very easy to qualify for and offer very favorable loan terms. The icing on the cake: the tax you pay on this loan is more often than not tax deductible. Now, who would not want to get one of these?

Bad credit people usually have a hard time obtaining finance due to the fact that they represent a high risk for any lender. Still, there are some bad credit lenders who partially eliminate that risk by charging higher than average interest rates and fees. However, if you are a homeowner, you will always have the doors to finance open. No matter how bad your credit might be, you will most likely be able to get any loan if you use your house as a collateral. Read on for tips on how to get approved for a bad credit home equity loan.

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My husband is going through a final round of monetary negotiations with his exwife. He had a very bad original divorce decree whereby she was paid a lump sum of 110,000 and then has received 2200 a month for 4 years all of which has been from liquidated assets. He lost his job last June (he’s a symphony conductor and has had steady employment for over 25 years). We currently have $40,000 from a home equity line of credit.
She is willing to consider a further settlement to end the court battles. So here’s the deal:
He either liquidates over 90,000 pounds from his trust (which he’s inclined to do and I think is crazy)
Or we sell our home for $300,000, walk away with about $150,000
and leave the trust in tact and start over again…..
Which is the more intelligent and financially sound decision?
The trust is worth about 500,000 pounds……just for further information.
The reason we’re dealing with pounds and dollars is because he’s English and his trust is there.
If he liquidated 90,000 pounds it would equal about 180,000 here, enough to pay her off and the home equity line of credit.

My wife and I used part of our home equity line of credit to pay off some debt and do some needed improvements to our home. Now, we don’t have alot of money in the line left, but we want to continue making some improvements. For instance, our new kitchen floors and counters will cost us about $2,500 more than we currently have but the improvements will dramatically increase the market value of our home. Should we possibly borrow the $2,500 (at 0% for 12 mo) so that we can complete the project ,or is this a bad idea? We really want to do the improvements, but want to use the remainder of our line of credit responsibly.