I just deposited a $25K check from a well-known brokerage firm into my checking account at a well-known bank. I want to use that money to pay off part of my home equity line of credit balance at the same bank. I did this three months ago and it wasn’t a problem. Nothing has changed on my end but now they want to hold the check for 15 days so I can’t pay off part of my balance. This means I have to pay an unneeded $150 to them for the interest on that amount I’m not able to pay off yet. I’ve always seen checks cashed in 24 hours these days. Is this 15 day hold on money they already have unreasonable and should it be reported to the Better Business Bureau? Thanks.
I purchased my home in 2004. At that time, a $26,000 home equity line of credit was established through GMAC. In October of 2009, GMAC sold my HELOC to Specialized Loan Servicing.
Ever since, it has been a nightmare.
Can’t keep track of my payments, no idea where my money is being applied, bogus annual maintenance fees (that were not in the original GMAC note), impossible to read statements – I’m just beside myself. On top of all that, it is obvious SLS is geared towards collecting BAD debts. Almost every call I make to them, or piece of mail I receive is set up as if it’s for someone that is 3 months behind. I pay almost double my monthly payment for pete-sakes!!!
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I’m looking to refinance my house and while the loan amount on my first mortgage is 800K, my house is appraised at $1M. However I also have a home equity line of credit for $100K. I’m only looking to refinance the first mortgage, however. Will the bank count the HELOC, in addition to the new first mortgage, when evaluating the refinancing of the first mortgage? Thanks.
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I have used and now owe half of my Home Equity Line of Credit which is locked in at 7.25% for five years. I don’t want to borrow more money though. I want to start paying off what I owe.
How do I go about doing this in an advantageous manner? Do I need to refinance into a conventional loan or should I just start making payments over and above the interest only payment I am paying now.
Long Story Short, Back in 2008, I ended up paying off all of my credit debt and then ended up moving to another state to be with my girlfriend (moving to another state without another job lined up is a bad idea). After Maxing out all of my credit cards, being legally homeless for months on end and living out of a motel I finally made my way back home where my credit was destroyed. I am now trying to pick of the pieces but it has been difficult.
Tons of people always talk about how people with horrible credit can still get personal or debt consolidation loans. When when you look online all you see is spam or garbage. I’d like to get a personal loan so I can consolidate my bills and move out of my parent’s house. Does anyone know of any legit, useful places that provide a bad credit loan (not payday advances)?
All of my credit cards ended up going to collections. I am currently now making payments to those collectors. They all refused to let me make payments on my own; telling me that my word on paying wasn’t good enough and that I had to either allow automatic deductions or they’d simply garnish my wages. While I was able to get several down to 60% of the original debt, the only way they’d work with me was by setting up automatic payments. I am annoyed that I am trying to at least fix my credit and pay my debt and these people are being so frustrating.
