Home Equity Loan
Home Loan Consolidation Knowledge Base
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!
Don’t know if my credits good enough for a home consolidation loan. Is there anything else I can do? I have lived with my mother for the last 15 years of her life, before she died she left me the property but also a large lean on the house, I would like to roll all of my bills and the funeral cost into the loan as well, if I don’t I don’t think ill be able to keep it and I would hate to lose the place, as my credit has taken a small hit after the last two years so I’m not sure if the bank will give me a consolidation lone. Are there any other options out there? Or anyone I could talk to get things straightened out? Any help or ideas would be helpful; I really don’t know what to do next. Thank you.
If I get a consolidation loan will it help or hinder me getting a home loan for a first time buyer? We have poor credit and trying to repair it; however we want to purchase a home by the end of the year. Will it adversely affect my chances of getting a home loan if we take out a consolidation loan to kick start the credit pay offs? So if I can not get a loan, how do I pay off $7000 of dept in less than one year?
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?
where can I get a home/debt consolidation loan with bad credit? I would like to have a chance to start over without having to file bankruptcy.
where can I get a Debt Consolidation loan for my credit cards without owning a home? I am looking for somewhere to get a consolidation loan for my credit cards even though I dont own a home?
Do you have to own a home in order to take out a debt consolidation loan? I would like to consolidate my debt and have seen information on debt consolidation loans. I do not own a home but am interested in consolidating my debt. What options do I have?
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.
Can you receive one loan for home purchase and debt consolidation? I would lke to know if there is a type of loan that will allow you to consolidate credit cards, personal loans, and purchase a home at the same time. I am currently a graduate student with student loans as well.
New homeowners need personal loan for debt consolidation and home improvements.? My husband and I closed on our first home on 8/31. Our loan was financed 100%. We are now looking to consolidate our credit and auto debt into one along with major home improvements that need to be done. . They total $35k. Where is the best place to go to apply for a personal loan or line of credit for at least $60, 000. Thank you for any insight!
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
Im looking for a consolidation loan. I dont own a home and my credit is poor. Where can I get a loan from? I have about 10,000 in debt and I have a job full time and my salary is about 2200 every month.
Consolidation loan for more than the value of my home? A financial institution has made an offer to combine all of my credit card debt ($35,000), my mortgage ($120,000) and my second mortgage ($29,000) for a total loan value of $184,000. I believe that my home is only valued around 165,000-170,000. The offer is for a 15 year loan at 8.89% APR. (My current mortgage is 6% and the second mortgage is 6.4%). It would only reduce my monthly payments by a couple hundred dollars, but the thought of having my home paid for in 15years is appealing. They are charging a pre-paid finance charge of $7400, which I really don't understand. They are adding that to the value of the loan making the total principal to be $194,000. I am really leaning towards going forward on this, but would really appreciate any advice. I am a little uneasy about the fact they are offering the loan for more than the value of my house. I realize that I will have to change my spending habits and get rid of my credit cards or this is useless. Thanks!
debt consolidation with home loan? i want to buy a home, but have $44000 in debt already, can i get a home loan that includes the amount needed for the house as well as including the debt eg if i buy a house for 299000 plus debt 44000 equals a home loan of $343000???
should i get a debt consolidation loan on my home to pay off debt? I have about 760 credit rating Im at 5.85 interest rate for 30yrs.. I put 20000 in credit card debt into credit counsiling for a year and a half its going down fast but money is tight thinking about different options
I have to write a letter in order to get a home loan as to why I have a couple late payments. Any suggestions I had a 60 day late on a small credit card and a 30 day late on a debt consolidation loan. I am being asked for some sort of reason why they were late when really there is no reason then being irresponsible and busy. What should I write?
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.
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!
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.
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.
I am thinking about buying a house in about 6 months, is it a bad idea to get a consolidation loan now? I really would like to consolidate my debt to pay off quicker and to have just one monthly payment, but i don't want to hurt my chances of a good home loan.
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!
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.
I have a consolidation loan which is at 19% and I will soon be purchasing a home, would it be a wise move.? to transfer this balance to a credit card with a 2.99% or would that effect credit at time of purchasing my home. Any help will be greatly appreciated. Thanks
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
Where can I find a personal debt consolidation loan for people with bad credit? I am in dire need of a debt consolidation loan and I have bad credit. I can make things work with $5000, but I do not know where to start. I have seen people with yahoo addresses claiming they can loan money but they sound fishy as it is not a company email, their emails always seem to be yahoo. Any info will help. I fell on hard times and am now able to pay my monthly bills but I cant seem to catch up what I fell behind on. PLEASE help asap. I have a 5yr old and I do not want him to suffer us loosing our home or car.
Will it hurt my credit on my preapproved home mortgage if I apply for a consolidation for my credit cards? I have been pre-approved for a home loan. I have not found a house yet. I want to consolidate my credit card and personal loans into one loan. I didn't want to exonerate my home loan approval.
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?
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.
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.
looking to purchase home very soon, want to consolidate bills by taking a loan out? if i take a consolidation loan out, what will this do to my credit score, and how will it look to lenders. etc. purchasing home within 3 months and want to have my finances simplified
What direction should I take to get approved for a Personal/Consolidation Loan for $25k without owning a home? Hello All, I'm trying to roll up my outstanding unsecured debt (about $25k) into 1 payment per month at a lower interest rate than what my current avg. interest rate is (19%). I gross about $6k a month as an analyst with a utility company and get paid monthly. I have a credit score around 630, I rent an apt. and I'm financing my car. I'm paying close to $1,500 a month towards my unsecured debt, a small % is going towards the actual principals. The payments are due on various dates each month (which I've already moved some bill cycle dates) which has caused me to be late or miss payments altogether. Ultimately my goals are to have 1 payment (close to my pay date), have a larger % of the payments go towards the principal at a better interest rate, lower my payment to around the $650-$800 range per month & improve my credit score. I think the only hope I have is to try & get a loan with a co-applicant/ co-signer. With that being said, does anyone have any suggestions on a route to take?
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.
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.
Does getting a debt consolidation loan mess up your credit? whats the best place to get a consolidation loan for debts with fair credit ... i dont want to mess up my credit anymore please advise...how soon an i purchase a home after getting this type of loan? i would like a starter home soon im tired of paying rent i want to consolidate all my bills into 1 payment and purchase a home please advise on situation and suggest areas to move too... thanks
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?
Should I payoff my 401k loan with an unsecured debt consolidation loan with nearly the same rate? My 401k loan plan is a fixed payment plan, pay no more or no less. I owe roughly $19K w/ 8% int. (home loan) with 6+ more years to pay off. The debt consolidation loan is for 8.99% for 5 yrs. One caveat ofcourse, is if I miss just 1 payment rate can adjust as high as 27.99! Gotta go w/ autopay deductions. Doing this will give me more take home pay, but is it worth it?
is consolidation of all bills atuo,home,credit cards;a negative reflection of crdit? i have been told that consolidation loans/pay off all loans throuh a finance company, shows up on your credit as a negative or bad decision.
I have $7K in credit card debt how do i get a consolidation loan ?? About $7K in credit card debt. my credit score is very poor around 450. I cannot get approved for a consolidation loan, i dont own a home to take out a 2nd, im living pay check to pay check. I really wanna consolidate with loan. please help, how do i get the loan to consolidate if my credit is so horrible i cant get approved?? Anyone know of any places?? i dont qualify for cash call cause you have to be 21 and im only 20...someone?? anyone??
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!
Could I please have your private student consolidation loan expertise? I have two private student loans that I start paying on in July. One is 13% $12700 and the other is 12% $12280. I am closing on a condo so I need to get these in order so I can budget accordingly. Are there many good fixed-rate private consolidation loans? Personal experience please? Also, I have a really high credit score...I don't see why my interest was so high in the 1st place. My home loan is super low. What type of payment could I expect if I do not consolidate?
Where can i find a good debt consolidation loan? With not so great credit and do not own home for equity.
I wondering if its possible to get a home loan, but at same time consolidate unsecured debt? I'm paying a lot less than the appraised value of the property, and even after consolidation, will be 30 - 40,000 under the value of the property....Jus didn't know if lenders would allow this to happen?
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
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?
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