Home Equity Loan
Home Equity Consolidation Knowledge Base
difference between a home equity loan and a consolidation loan? What is the difference between a home equity loan and a consolidation loan? Which one looks better on your credit report?
Home Equity Loan and Consolidation Loan Difference? What is the difference between a home equity loan and a consolidation loan? Which one looks better on your credit report?
What is better, debt consolidation loan, home refinance or home equity loan? My husband and I want to pay off some credit card debt; which is the better option?
Is a debt consolidation loan possible with OUT home equity? My ex has the house. The only collaterol I have is some IRA's that have double the value as my debt. What alternatives are out there? What do you suggest? I have great credit, pay on time, not behind. I am wanting to get a home within a year, but will not be able with such a large debt. This monkey on my back is stifiling. Thank you ahead of time for your suggestions! 081707 10:07
debt consolidation loans,home equity loans? me and my wife just bought a house 7 months ago and when we moved in we did not realize how much we needed to get the house adequete with furniture etc. so now we have ran up quite a few credit cards and have a 4000 furniture bill that we are barely getting by paying .so vcan someone tell me how debt consolidation works, and if it will mess your credit up. our house appraised at 92500,while we owe 86000 on it so any advice u give would help . thanks
Can I get a debt consolidation loan as a home loan but with no equity? I am trying to consolidate my credit card debt because the payments are too high each month. If I could get a home loan this would be perfect. I am having difficulty making all the payments and I don't want to completely ruin my credit. Any reliable consolidation advice would be apprecitated!
Found a home that has equity is there a lender that will do first mortgage and debt consolidation in one loan I have debt that I want to consolidate into a home purchase, since I found a home that is priced well below appraised value. Since there is already equity is there a lender that will do a first mortgage and second at the same time? This would reduce my debt to income and put me into a better financial situation since I would only have one payment would be lower.
I am 25,000 in credit card debt. I own my home (no equity) - need help with loan advice or debt consolidation? I have been transferring balances and making payments but I would like to know if there are any viable loan options to turn it into one payment without killing my credit score. Any help would be appreciated.
Home equity loan for a rental property located in Morristown, New Jersey. Purpose: debt consolidation? I am a landed immigrant in Canada, living in Edmonton. I have tried to get a home equity loan on my property located in Morristown, New Jersey. I have approached several major US-based lenders. I have been refused the loan because I am not a US permanent resident. I need your help to locate a financial institution (American or foreign) willing to work with me. I have an acceptable US credit score and my job in Canada is steady and well paid (I work for the Government of the province of Alberta). I want to use the funds to consolidate my debt. Thank you for your assistance!
if i take out a home equity loan now will this loan affect me if i want to refinance my mortgage.? I have 24 years left on 30 year mortgage. I am thinking about a home equity loan at a favorable rate, rather than roll in to refinance consolidation. If rates are favorable later this year i may like to refinance 1st mortgage at 15 years. Will home equity loan affect my refinancing even if i am not looking for any cash out.
How do you know how much equity you have in your home? We've owned a home for a year now and recieved a flyer from our bank about applying for a home equity loan. we want to apply so that we can possibly do a little debt consolidation (just a few thousand in student loans and credit cards) but how do you determine if/how much equity you have?
Does it EVER make sense to do a Home Equity Loan for CC Debt Consolidation? Two lenders are telling me it will be the BEST thing i ever did for myself. I have 3 bad debts and a FICO of 551. Why am I going to pay THREE TIMES over in interest to "make these go away" and put my house as collateral....changing an unsecured debt to a huge secured one? Seems like a no brainer.... Why do so many people do it? Am I missing a key benefit? I havent done it ...pretty sure i wont.
Is it wise to pay off credit card debt with a home equity loan? Is there a better option? My credit union is offering a consolidation loan and telling me that the average in our area is about 13.87 percent.
Need money for debt consolidation and home repair on a new purchase and I have damaged credit? I recently purchased my home and now have plumbing issues that are not covered by my insurance. I have some equity, but cant seem to get approved for anything, maybe I am looking in the wrong place. Help!
Anyone know any good way to get a decent debt consolidation loan? I want to get a debt consolidation loan, WITHOUT using my home equity, but they are telling me my credit score is great, but by ratio is too high. Well, I want to consolidate all the CC debt I have, but it's running me in circles. What's the point of trying to get a consolidation loan if they won't lend it to you because you have too much debt? Does anyone know of ANY bank or anywhere I can turn to that understands and can try and help me? Thank you for your help!
Is this home equity loan outrageous? We are being offered a $20,000 bill consolidation loan from CitiBank, at 12% interest. The loan is for 20 years, with a monthly pmt. of $300. I thought that was ridiculous! If it was a $20K car, I'd probably have the same payment but for only 5 years. Twenty years?? Insane! Are all the banks this greedy? Mystic- Don't be so quick to judge girly. I said we were offered the loan -- I didn't say we'd go for it. Read the question next time.
Is it possible to obtain a REAL reduction in ALL debt, or a REAL personal consolidation loan? Is it really possible to reduce ALL debt? Or to obtain a REAL personal consolidation LOAN without having a large amount of home equity? I am already in a Debt Management Program, that does not leave me enough money to even put gas in my car or food on the table. I am still searching for another full-time job in addition to the 8-10 hours a day I already work.
How can a debt consolidation loan that also includes home repairs and will reduce monthly costs by $650 be bad I checked out the loan and the interest is not too bad giving that this is a second mortgage that gives money for repairs and pay offs. The only thing I see is that it eats up all the equity and we will need to live in our home for at least 15 years before trying to sell...so that alone is the biggest decision. I am just wondering if there is anything else I should be looking for??? Thank you for the advice. The rate is 9.5% Fixed for 15 or 20 years. There is no pre payment penalty.
When you do debt consolidation through home ownership...? does the bank only loan you the amount of money equal to the equity in your home? Or do they go above the home's value?
My parents put a manufactured home on a piece of property which is owned by a family company...? They have never lived here. I am the only occupant who has ever lived here for almost 10 years. Is there any way of transferring ownership to me without raising red flags or getting murdered by taxes? I want to be able to get a home equity loan to purchase the property, do some home improvements and debt consolidations but it needs to be in my name. Any suggestions??
which bank we should contact for debt consolidation loan? we have 3 credit cards with 15K debt and paying average 15% APR ...and we think we should try for debt consolidation personal loan which doesn't require any collateral or home equity...so based on experience can you please suggest which bank we should contact for such loan?
Is it futile to search for lenders that do "true" Debt Consolidation LOANS?? I have been searching for almost two months to no avail. Are there no legitimate lenders that perform Debt Consolidation Loans? I am not looking for a Home Equity Loan, I mean a loan to "replace" my high interest loans and credit cards with one affordable monthly payment?
Where can you find a reputable debt reduction program? I don't want a debt consolidation or home equity.
Home equity line of credit...what should I know before I apply? Thinking about a HELOC for debt consolidation. Good idea or not?
Where should I go to get help with debt consolidation? I have really bad credit, I am in debt and I already have a home equity loan.. where can I go for help?? I want to avoid bankruptcy. Please help.
Where can i find a good debt consolidation loan? With not so great credit and do not own home for equity.
Letting credit cards go with no payment? What would happen if I default on my regular credit card payments and allow them to go to collections? It would be easier for me to pay off the settlement balances in a year or 2 and also have it taken off my credit then. I have no option on home equity or credit consolidation, I tried them all.
Where can I find the best mortgage rate for refinancing? I am not sure whether to refinance with debt consolidation, cash out or a home equity loan or line of credit.
Doea anyone know of a company that will give debt consolidation or home quity loans to people with bad credit? My fiance and I have not great credit, but we make a decent amount money and are looking to consolidate debt so that we can get out of it! We have about $40k in equity in our house, and we will need about $30k to consolidate. We have a combined income of $77,000. we don't care about the rate because anything will be better than paying 20-30% interests on about 8 different accouts. Help!
consolidation loan? ok, my situation is that I have a huge amount of credit card debt and a few other loans. I am not a "big spender" and financially responsible but a few "curve-balls" that life has thrown me has left me in a hole I don't know if I can climb out. What I am hoping to do is either do a debt consolidation loan or maybe 2nd mortage. I own a home but other family members stay there and I was hoping to one day own one for myself. So I guess my question is what are some of the pros and cons of debt consolidation. What would I do or need to do to take out a home equity loan?
I need a mortgage loan. Can anyone tell me about Mortgage.yeyeyup.com? Please check out this company and tell me if I could apply for a mortgage loan with them. They've got impressive information about the best mortgage companies and a directory of mortgage companies by states. I'm wondering if I should trust them for a refinancing or debt consolidation or home equity loan. They seem to be a mortgage brokerage company.
Is a consolidation loan for both secured and unsecured debts a wise move if you have no other choices? My financial situation has decreased greatly recently and I owe more each month than I am making. This year I couldn't even afford Christmas presents for my children. I've already refinanced my home a few months ago and therefore have no equity built up since then. Please let me know what my best recourse should be. Thank you
Anyone take a personal loan to pay off credit cards? I was wondering if anyone took a personal bank loan in order to pay off their credit card balances? Do banks actually offer a credit card consolidation loans yet and for that purpose only? From what I understand this would be better than a 401K loan. Forget the home equity loan. Also heard enough about those so called “credit card repair companies” that they are not worth it. About 16k owed and I am sick and tired of their finance charges , late fees, etc. Want rid them once and for all!
What wording/approach is helpful in dealing w/Credit Card companies/getting balances down..lower % rates? Don't want the Credit Counseling Companies Don't want the debt consolidation approach Don't want to file Chapter 11 or 13 Don't have any home by which to pull any "home equity" I need to get my "massive" debt down, or will never be able to get a home - ever. Got debt due to divorce, unemployment of 11 months, going back to school 2x & paying for it myself. So, I'm in a pickle, my credit is still 720+, and I feel that the possibility of ever having a home again is slipping out of my fingers - for good. I need some verbal approach technique to use to call these companies, to get them to knock off some of my debt without hurting my credit. What do I say? Will they expect me to come up with immediate cash if they remove some of the balance? What special key words are effective in getting the credit companies to work with you & help rathar than hinder you? 061507 2:10 OC1999 you're answer is very helpful-you have a point-unless I begin being delinquent, they don't care. Mike-I didn't need your spamming. Gary H & Miss Blue - both very helpful answers and I can't break the tie, so I'm leaving it to the Y!A community. PS - Gary's website should be as: http://www.creditinfocenter.com/debt/ Thanks to all three answerers! 061907 1:35
I am $50K in credit card debt, what are my options in terms of debt consolidation? I own my home, but do not have enough equity built to refinance and get $50K to pay off credit card debt-what are my options? Someone told me a second mortgage may work, but I have only owned my home for 14 months. Balance on my current mortgage is $77K, home value is max $90K.
Loan consolidation help? No home to use for equity, denied for personal loans and additional credit cards everywhere, cannot work at this time due to illness, debt relief companies do not deal with payday loans, help?
Debt Consolidation Loan? My wife and I are considering a debt consolidation loan. We're current on all of our bills, but stretched a bit thin with not a lot left over after all the payments are made. We only have a year of payments in on our house, so a home equity loan isn't really an option. We're not looking to lump our cars or house payment in with this, just pay off and cancel all of the various credit cards we have and lock in one interest rate and payment. I was wondering if anyone could offer any advice or tips on what to watch out for. What, generally, are the terms like? How long could we space out the payments (we are looking for 60 mos.)? Any other thoughts or options? Thanks for the help. Okay... not that I think it's going to matter, and I'll probably still get spammed.... But I already have a couple of banks lined up, so I'm not a potential customer to anyone here. Not looking for an offer, just looking for someone with personal experience with this type of loan.
help in consolidation.? i have student loan 8000 at 5.3% car payment 8050 at 5.9 % another car 6000 at 4.3 % can i take out home equity loan and pay it? does it save me interest rate? i have a house 225000 and the remaining balance is 178000 at 6.3 % in 30 years fixed please i need your help to reduce my payment. my morgage payment is 1440/month no major credit card debt exept rooms to go card 1500 only thanks
Debt consolidation , how it works ? I have about 5000 of credit card debt , I rent so home equity wont work (i rent) I cant really cut down on stuff , my FISCO went from 740 to 505 in a year (financial problems). So i need help getting help with debt consolidation with about 200-250 monthly payment (I cant afford that) so i need help picking good company that isnt going to screw me over. Also I have question how its working , do they actually pay off your debt and you pay them , because I dont want some of my CC Account closed , I want to keep 4/9 credit cards. What do you think about that ? P.S. Snow ball will not going to work.
I need $20,000 for debt consolidation - score & history is good just a lot of debt. Keep getting denied, help? I am very desperate to come on here and talk about my financial situation. I need approx. $20,000 to consolidate credit card debt... I do not have enough equity in my home (just bought it last year), I have tried personal loans through Capital One and Chase and have been denied. With Capitol, I even had my father co-sign (he's got excellent credit) and it didn't work. I have NO WHERE ELSE TO TURN. I need help, if anyone knows a forgiving lender who will look at my situation, or any other way for me to reach my goal, PLEASE let me know. Please do not refer me to a credit counseling program, for I don't use my cards anymore, I just have been paying on them for 3 years and trying to speed up things. I know I could just keep paying the most I have on one card and work them down, but I am looking for debt consolidation OPTIONS. Like a bank or organization that would help. Thank you so much for your time in advance!
I am considering pros and cons on debt consolidation through ccc services or filing ch 13? The payments would be more than what i pay out now for keeping up my credit but have 6 accounts in collection status. I have a new car, i may have to give that back to make payments to ccc services thus getting a repro on my record. Chapter 13 appears on my record for 7 years but i could manage to keep the car and i worry about problems down the road keeping up with the plan. The lawyer says he does not know at this point whether the plan will be 3yr or 5 until he looks at my total situation in more depth. Its a close call between the two. Chapter 7 is out because i dont want to risk losing my home due to equity accumulation.
What reputable lenders will do unsecured consolidation loans? The only one I know of is Capital One. We have very good credit, never delinquent, never defaulted and good jobs. We're just over-extended and I'd like to consolidate the credit cards and smaller bills for a few reasons, including: 1. one bill vs many, easier to manage 2. a true END date, unlike a credit card 3. fixed payment I've tried doing searches but nothing comes up that looks legit to me and I've heard the horror stories. A home equity loan is not an option. Any suggestions would be welcome. Thanks in advance!
consolidation loans? Can anyone give me the name of a loan company or companies, that offers fixed rate long term loans? I'm not looking for home equity loans as I don't have a home. They must be listed with the BBB and have a legitimate website and business. I'm not looking for Joe's fly by night loan company. I don't want to have to declare bankruptcy.
How do you feel about Debt Consolidation? My husband and I are about $14,000 into debt. We just bought a home last year and you know how it goes from then on. Between the two of us, it's not too high of a number but with HIGH HIGH interest rates, it feels like it will never go away. We are looking into a personal loan (home equity loan not an option at this time). We want to payoff all our debts and use the rest for finishing our basement. I do the bills, and can't stand the anxiety associated with making sure everything is where it should be on time. From personal experiences, has anyone benfitted or had a loss from taking out a personal loan and re paying it back over time?
Debt consolidation with mortgage? We have a mortgage for 146,000. Value according to mortage holders is around 205,000. We have a fixed 6.65% rate and have 26 yrs left on mortgage. Current holder could roll all of our debt into home loan and reduce our rate by .25%. Bringing our payment with escrow, insurance, taxes, etc.. from 1460.00 to 1750. Our debt includes 14,000 in student loans, 14000 in credit cards, 15,000 in vechiles as well as 10,000 on HELOC. The question is this almost taps out the entire equity in our home and we would also have a thirty year loan again. Would this be a wise move? Thanks. BTW both of our middle credit scores are mid 720. We make about 110,000 a year.
Debt Consolidation? I recently purchased a home (3 months ago) and financed 100% of the home. At this point I do not have an equity in the home. I am currently looking for a way to consolidate some of my debt to lower my rate, lower my payment, and ultimately pay off the debt sooner. I have 1 car loan, 1 personal loan, and 5 credit/store cards that I would like to consolidate totaling about $16,600. My FICO score is currently 686, and I am on time every month with all of my bills. I have paid all bills on time (most of the time more than the minimum) for more than 3 years straight. My problem is that my Debt to Income ratio is probably too high for most lenders to consider me for a consolidation loan. What can I do to consolidate ALL of my debt? Any feedback would be appreciated.
has anyone with bad credit used creditaxis.com? It says Over 80 Little-known Banks & Companies that offer Bad Credit Loans, Bad Credit Home Loans, Bad Credit Auto Loans, and Bad Credit Personal loans to people with Bad Credit or even a Bankruptcy. Many require absolutely NO COLLATERAL & NO CO-SIGNERS. Home ownership is not required. Several Little-known Companies offering easy-qualifying Bad Credit Signature loans, Bad Credit Business loans, Bad Credit Student loans, Bad Credit Home Equity loans, Bad Credit Debt Consolidation loans, and Fast-Cash loans. Bad Credit and Bankruptcies welcome. 'But it wants you to pay a fee of 35$ to recieve the list of lenders, if anyone has used this site please let me know if its legit....thanks
Consolidate my 1st morgage,heloc,loan,credit cards and make a cash out too? I have enough house equity.? Can I combine debt consolidation and cash out into a first mortgage? The cash out is for home improvement and personal use.
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