The only time you should consider taking out a home equity loan is if it will increase the value of your home. While taking out a home equity loan to help pay down other debt may help in the sort term, it is not a long term solution to a debt problem. Ifyou have more questions, you can call the United Way’s helpline at 1-800-427-4626 or 2-1-1 for information about trusted community resources in the Greater St. Louis area you can turn to.
My sister is asking me for money to pay up her home equity line. When I asked about her mortgage payment, she said she paid it off with her home equity line. Is that possible to borrow money on your home to pay off your home?
We have land with approximately 25000 equity in it. Owe 7500 and want to use the equity towards the purchase and pay the land off and refinance it with the mobile home loan. but due to my brother having his 35 year old mobile home on my property I am having a problem finding a lender that will do this. His home is in his name and is not part of the appraisal on my property. Our credit scores are approx 540 to 600 not sure of the exact figure. Does anyone know who can help us?
We wish to purchase a 2006 or 2007 new mobile home from a dealer.We have land with approximately 25000 equity in it. Owe 7500 and want to use the equity towards the purchase and pay the land off and refinance it with the mobile home loan. but due to my brother having his 35 year old mobile home on my property I am having a problem finding a lender that will do this. They want us to split the property into 2 deeds. Due to zoning restrictions we cannot do this. His home is in his name and is not part of the appraisal on my property. Our credit scores are approx 540 to 600 not sure of the exact figure. Does anyone know who can help us?
I have bad credit and need a loan of £8000 unsecured. My father will gaurentee the loan but i am unsure what leander will do this. please dont suggest debt consolidation. this is not an option
I bought a home for 24,000.00 and it appraised for 30,000.00 they cannot give me a line of credit because their minimum loan is 25,000.00 and I am only eligible for 24,000.00. For just one thousand I am not quaified. Is it worth it to put one thousand as a collateral?
I just need some money to fix the roof and do some remodeling.
I own two debt free rent houses that are valued at a combined 140,000 (apprasil district figure) and bring in a combined 1495 monthly rental income. I am wanting to pull some captial out of theese two properties for another investment oppurtunity. Would a home equity be the best method? What ratio of the 140k would a bank lend up to? Mainly Im just looking for the lowest closing cost and interest possible. My Fico is only high 600s(nothing truly bad on there just a short credit history because im in my mid 20s) thanks in advance
i tried to consolidate but my debt is too small for them —less than 5000, and i tried to get a personal loan to cover them and consolidate but my credit is way too low to get approve i’m stuck. i’m trying my best to fix my credit but its hard when all them are due now and i got none to cover all of them at the same time.
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In its simplest definition, home equity loan means using your house equity as collateral in order to borrow money. Collateral means your house will act as a guarantee. In the case if you cannot pay the loan or defaulted too long on payment, the lender has the right to sell the house to get…
I have been paying on this line of credit for 3 years and becasue it has a flexible interest rate although I pay extra because the interest rates continue to rise most of the payment is almost all interest. I need help getting out of this mess but I also need to put as much money in the 401k as I can because that is not where it should be either. If I do take a inservice withdrawal I will not be able to contribute for 6 months. This means i will lose the interest on the money I take out and on the money I cannot contribute for six months. I will lose my employers 5 percent matching and the tax advantages. What do I do? I plan to retire within the next 3 to 5 years. This is such a mess. I cannot take a loan out because I did so to payoff credit cards and I can only have one outstanding loan at a time. I feel so trapped! The home equity line of credit balance is 13000 dollars.
