Home Equity Loan

What happens to Wachington Mutual home equity credit lines? What happens to Wachington Mutual home equity credit lines? Do they stay open? Can I still draw on it.

What is Home Equity Credit Line of Credit (HELOC), whst is the advantage and disadvantage of that? What is Home Equity Credit Line of Credit (HELOC), whst is the advantage and disadvantage of that?

If I increase the amount of a home equity credit line but never use it, does it still affect my credit rating? Line of credit currently at $60,000, but want to increase to $150,000 just in case I ever need it. If I never really use it, does it still affect my credit rating?

How can I find the best interest rates for a home equity credit line?

Is a Home Equity Line of Credit or Home Equity Loan used to buy a second home tax deductible beyond $100,000? Would a Home Equity Line of Credit or loan used to buy a home be considered a Home Aquisition Debt instead of a Home Equity Debt?

Should I take out a home-equity line of credit to pay down my mortgage to eliminate PMI? My husband and I are currently paying PMI (Private Mortgage Insurance) on our mortgage. (We have no second mortgages.) I know we need twenty percent equity in order to eliminate PMI, but I don't think we're quite there. Is taking out a home-equity line of credit to pay down the mortage a good idea? I know that we'd then have two loans to pay, but the PMI would be eliminate and all of our payments (minus the interest) would be going toward the loan rather that insurance. Is it possible to get a home-equity line of credit for 6%?

Can I even get a home equity loan wiith a credit score of 630? I am looking to consolidate/ pay off my bills with a home equity loan but I only have a credit score of 630! I am afraid that the credit inquiries will LOWER my score more if I am denied. Should I even bother trying to get one? I don't want to mess up my credit any more. Are home equity loans credit based?

Can you have a home equity loan and a home equity line of credit? My husband and I have two mortgages (an 80% and a 10%). Our banker uses the term for the "second mortgage" interchangeably with a "home equity loan". Is it possible for us to take out a home equity line of credit at the same time we are paying the second mortgage?

What is the typical point for a home equity line of credit? Does anyone know the typical point for a home equity line of credit ? By point, I mean the up-front fee that is proportional to the credit limit. So if the term asks for 5 points (5%) and the line of credit is $100,000, there is a $5,000 fee. Do you think that the numbers I've just mentioned are a pretty good deal, assuming that the interest rate is good? Thank you.

Does a co-signer need to be on the title to apply for a home equity loan or a home equity line of credit? I'm thinking about applying for a home equity loan or line of credit for my home but am discouraged by my below average credit score. To refinance, any and all applicants must also be on the title document, so would the same rules apply on a home equity loan or line of credit?

Your home will foreclose What will happen to the balance you have on your equity line of credit obtained from? My friend has a home equity line of credit and plans to foreclose on his home. Will he be responsible to pay for his line of credit afterwards or will that be considered a part of the foreclosure?

Home equity line of credit: Can I use it for the down payment to buy another house, then sell the first house? Hello everyone, I need to move to another location. Can I take a home equity line of credit on my existing house to pay for the down payment of a new home, and then sell the first house that I used for the line of credit? Are there any restrictions to do that? Can I avoid the fee that I will get if I sell the first house early? Thanks.

How find new home equity line of credit? I have a home equity line of credit at 9%; I see them advertised at 7.5%. Any ideas on how I might find a better rate without closing costs besides just calling around?

Will moving credit from my credit cards to my Home Equity improve my credit score? I have 40,000 in Credit Card debt. I own my house outright. If I get a Home Equity Loan and move this credit from my cards to the HELOC will it improve my credit score or will it basically stay the same?

should I refinance my home to pay off an equity line of credit? I have a home equity line of credit paying intrest only at 8.25% on the amount borrowed against it.

What is better, home equity loan or line of credit on home I own outright? I just finished building my house and I have no mortgage or anything as I had enough cash to buy the land and build outright. But, I have no money left to landscape and have some medical bills I would like to pay off. Can I get a home equity loan or line of credit on my house? Which is better?

How much Can I take Out for Home Equity line of Credit? I have a house paid for free and clear. How much will a lender allow me to take out on a Home Equity Line of Credit? My friend told me only 40% of the value of the home. Is that true?

How long do i have to wait until i can get an home equity line of credit? I should move in my new house in july, how long do i have to wait before i can get a home equity loan? or what is my best option for getting 50K? I will no car notes, no credit card payments, nothing more than my mortgage and bills that are associated with anew how. I have a fixed rate so im not in the whole. Im just trying to do some research. Thanks

Is my home equity line of credit from Citi Bank a recourse loan or non-recourse loan? I am going through a foreclosure and need to know if I am liable to pay back this second lien position, home equity line of credit. Also what are tax consequences for this foreclosure with the home equity line of credit?

Help to save home & credit rating, $25000 super, no defaults as yet, expect no income for 3 mths, no equity? Lost employment contract just before Xmas, no income, no savings, small home equity. Mortgage brokers cannot help me. My credit cards are almost maxed ($30,000) but I expect to be employed soon. I can afford either credit card repayments or home loan repayments, not both. Do I let home payments default and then claim hardship from super fund. Can anyone tell me the best procedure or a simple solution. I am 52 years old and would like to keep my excellent credit rating if possible.

Is it wrong for your bank to hold a check (for 15 days) to pay off part of your home equity line of credit? 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.

Pay home equity line of credit or Fund 401K? We have been contributing to our 401k at the max. We have $30,000 in home equity line of credit debt. Should I stop funding the 401K and pay down the debt? Or maybe go half and half?

What does it mean to "lock" just a portion of a home equity line of credit? I am new to home ownership.... and just got a $50,000 equity line of credit. They told me I could "lock" only a portion of it now (i.e. $40,000) and then call back at any time and lock another chunk. I asked her what she meant, but her answer went right over my head... Please explain in dummy terms what it means to "lock" $40K and why I want to do that? And do I want to call back and lock the rest? I am sooo confused. Thanks so much for any information anyone can provide!!

Home equity or line of credit to fund college education? We have plenty of equity in our home and my sons college tuition will be approx. $30000/year. Should I take out a home equity for the estimated 4 year costs, or take out a home equity line of credit and hope interest rates stay low?

How 2 solve for potential amount of credit available for home equity loan? Here is the problem: Ramon owns a home that was appraised for $132,600. The balance remaining on his existing mortgage is $43,260. Ramon's credit union is willing to loan an amount up to 70% of the appraised value of a home. Based on this information, what is the maximum potential amount of credit that's available to Ramon for a home equity loan?

Does a home equity loan affect your credit? Just wondering if its better to refinance or take out a home equity line of credit as far as credit damage. Thanks!

Credit Card or Home Equity Line of Credit? I am a full-time graduate student with 3-years left to go. I have amassed about 7K of credit card debt. While I have gotten my finances under control to not get anymore in debt, I am having a hard time making a dent in my balance and I won't be able to anytime soon. I also have a home equity line of credit and the minimum payments are much lower. Should I transfer my credit card balance to my home equity?

Mortgage tax on a home equity line of credit? I recently remortgaged and I took out a "home equity line of credit" along with the refinance. I don't especially need it and don't have plans to use it, but as the loan agent put it; "Its free for refinancing with us.... and isn't it nice to know its there for an emergency?" 'Well, yea!' I thought to myself. I was stunned to find I have to pay mortgage tax on this home equity line of credit, before and, whether or not I ever take the money. Does anyone know, if I never do use this money... can I get a refund of this tax?

my friend had a home equity line of credit? recently he got a letter from home equity line of credit bank's attorney saying that they are trying to collect debt and all that, he doesn't have the money any more so what happens, now, what are his option filing a bankruptcy or?

Do you need good credit to take out a home equity loan? Will bad credit affect chances of being considered? My credit is poor but I have probably $80k in equity in my home. Will a bank refuse to approve a home equity loan because of bad credit?

is there anywhere i can get a home equity loan with bad credit? my boyfriend and i have bad credit but we own a $85,000 home with no mortgage. the house is paid for. we were looking into getting a home equity loan to pay some back bills off and do home improvements. is there anywhere that we could get a loan even with bad credit?

Home equity credit problem. Title Mistake. How do I fix it? In the final process of equity loan, my lender tells me tital search shows my brothers listed as owners even though they have never had anything to do with my property or credit. I'm in Buffalo, NY. How do I fix this ASAP?

Is it ok to get Home Equity Credit? My wife and I bought our home in july 07 for 199k.our home is valued at about 230k.we have good credit but we have about 14k in revolving cc debt and about 6-700 in monthly payments for this debt.i want to consolidate these debts and not use our cc; but also do some home improvements this summer.is it ok to take out a heloc? thanx everyone.

Is it wise to take money out of a 401k to pay off a home equity line of credit. I am 5 years within retirement 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.

Do I want a home equity line of credit or home equity loan? I just bought a house a week ago and want to get a loan to help pay off my credit card debt, which is about $8,000 and is currently at a 10% APR. We bought the house for $215k, put $6,000 down. The house was appraised at $225k - $10k more than what we bought it for. What type of loan can I get or should I get?

Should we wipe out savings or go with home equity line of credit to finance home improvements? My husband and I are debating how to finance some home improvement projects. He says use savings, I say use a line of credit(repay within two years hopefully) I am afraid if we use savings we will never replace it. He doesn't want debt. Any opinions?

Is this home equity line of credit offer too good to be true? The bank is offering a line of credit sale. I pay no fees, the bank is covering all closing costs, state taxes, appraisal fees and the first year annual fee. I can take out a line of credit on the equity of my house. The rate is prime minus 1/2. What is in it for them? Could there be a hidden downside for me? What do you think?

Can I claim my home equity line of credit when filing for bankruptcy? I am filing for bankruptcy and have negative equity in my home.

How soon can you get a home equity line of credit after purchase? Also, If there any companies that based their loan decisions only on the amount of equity, without checking credit and debt to income ratio? Thanks

Should I use my home equity line of credit to pay off my car loan and part of my student loan? By using the HELOC, it's going to free up several hundred dollars per month, and I can claim it as a tax deduction at the end of the year. On the other side, I'm eating up a sizable amount of home equity by doing so. I'm planning to pay them off either way--I can do it now with the HELOC, or after I sell my house, with the cashed in equity. Which route should I go? Does it make a difference?

What is todays interest rate on a fixed rate home equity line of credit? I am asking because I am really nervous about applying for home equity for a roof starting very soon-probably next week. My roof is leaking.

Should I refinance Home Equity loan to consolidate credit card debt (I am buying a new house in 120 days)? Consider this: 1. I have $30k in credit card debt. 2. I have a 1st mortgage for $200k (4%) and a Home Equity line of $170k (at prime rate) with no additional credit available. 3. I am buying another house at the end of April. Would I be better off refinancing my Home Equity and Credit Cards into a new Home Equity loan, or just stick with it as is? I have heard that I may be able to get better rates on my loan for my new house if I refinance. Could this be true? Thoughts? Opinions? Alternatives?

is there a place that offers home equity loans to people that have bad credit? my boyfriend and i own our home with no mortgage. we have around $76,000 of equity in our home but have bad credit. is there somewhere we can go for a loan that works with the better business bureau. i want to make sure its legit.

Where is the best place to find a good offer of home equity line of credit or home equity loan? And what's the best rate you can get, 1% or more below prime? Please share.

Can I get a home equity loan with Bad Credit. i OWN My home and its fully paid for? I went to the bank today and tried to get a home equity loan but they turned me down because I had bad credit. I have a stable job that I worked at for over 5 years, I own my home and it is fully paid for. I drive a 2006 Mustang Gt but they still turned me down because of bad credit. I wanted to get the cash to fix my home becuase it need new pipes and a heating system, so i wasnt going to go blow the money. My credit isnt super bad but its still not good, is it possible for me to get a home equity loan without good credit. i DONT want any online loan stuff or any stuff like that. I LIVE in a small town with not that many banks and i need this loan before winter. cAN I GET THIS LOAN WITH MY BAD CREDIT?

should I pay down my home equity loan or pay off credit cards? Hi. My home equity loan is an interest only adjustable and I am currently paying something like 7.02 (I have a rate of 1.25 below prime). I also have credit card debt on two cards, but they are fixed at 4.02 and 4.99. I know its usually better to not have the credit card debt, but since the rates are fixed and lower than my heloc, should I work on paying the heloc off first (I owe twice as much on my heloc as I do on my credit cards). Thanks.

I need a home equity line of credit or a loan? Whats the difference between a loan and a line of credit? Do you think its ok to search for the lender on the internet or should I go to my bank who refused it 2 yrs ago even though my FICO score was over 700? Its 760 now. Do most people get quotes for the work they need or do they just borrow over and beyond what they think they need? What are they going to ask me for when I apply for the equity line of credit?

In the state of Illinois is it legal for a retail banking institution to open a home equity line of credit for a customer, if an the customer already has an existing line of credit open with the same bank but it has a zero balance? The problem being my brother who had my mother's POA opened a second home quity line of credit for our mother without closing the existing line of credit, therefore leaving two liens out there of the property. Was that legal for the bank to do so?

Home Equity Line of Credit - do 5k lines of credit exist? This is my first home that I've owned and I've had it abt 18 months. I've already replaced the AC unit which killed my investment account but I had a sick cat ruin the already old flooring. I have 8k in equity in the house but the minimums I've seen are for 10k in equity. Do $5k home equity line of credits exist?

Should I get a Home Equity Line of Credit? I am buying a home. The mortgage broker tells me I can get a HELOC with zero closing costs in addition to the mortgage. I don't need it currently, but is it useful to get it for the future in case I need money? I am financially stable and have very good credit.

how exactly do I use a home equity line of credit to invest in real estate? I have heard that taking the equity out of my houses to invest in real estate is a great option. what exactly are the inner working of this? Won't i be having two mortgages that have to be paid from rental income? any advice and resources or links would be appreciated.

need a home equity loan home equity 300,000 credit score 560? My friend has a equity in his home $300,000 but his credit score is 560. He wants her daughter to take the equity loan but she is not in the deed.

Where do you go to get a home equity line of credit for a mobile home? I inherited the mobile home and have lived in it for less than a year and I'd like to get the loan for home repairs and a new/used car. But I'm not sure where to go or how to go about getting the loan.

I need a lender to give my husband and I a home equity line of credit? Our credit scores are only in the mid 600's. Our business has been open in Idaho for 1 year now. Previously we owned a business for 13 years in another state, same line of work. We have owned our home for 19 months. We paid 71,000 and now fair market value places it at 150,000 to 190,000. We would like a line of credit for 140,000 to consolidate debt and finish remodeling our house. An appraisal would need to be drive by only because we have exposed walls inside. We are trying to bring up our credit scores by "opting out" of credit offers and doing some dispute clean up. "Countrywide" seemed to be coming through for us until all of this market stuff started happening. If anyone can give us direction, it would be great. Thanks, Barbara We currently owe 68,000 on our mortgage.

Can interest on a home equity line of credit be claimed on my taxes? If the line of credit was used (and is solely being used) toward the purchase of my house, can the interest I pay on it be claimed on my taxes like mortgage interest? Is this considered Investment Interest Expense?