Welcome To Our Home Equity Page

The purpose of this page is to give you access to the finest resources about Home Equity. We are sure you will find something here that will lead you to what you are looking for.

Home Equity Questions and Answers

Open Question: how does forclosure happen?

My son bought a house with a settlement he recieved paid 169000 in dec 05 he is mentally ill and was on meds and ssi for many years once he turned 18 ssi had different criteria be deemed disabled he was'nt cured he was and still is the same maybe worse.I'm also disabled not mentally but health wise and been getting worse myself with poss cancer I have ssi disability 637 a month is only income provable nothing from son's buissness.Once my son reached 18 I had no control over him or his decisions but we all moved in here me my son and my daughter who's finishing hs this yr.My son blew 40000 on starting a buissness in 2006 and in taxes he took a loss made no money in 2006 I have always been a renter so me nor my son knows anything about owning real estate loans etc.To help the buissness in 2007 in march my son tried to get a 55000 equity loan. With tax buissness loss and no credit history or score and had spent all of his settlement on house and starting self employment masonary copany the lender said he could be excepted because of equity in home on day of close after collecting 400$ apraisal fee lender said my son no longer quilified suddenly ,and I was asked if I wanted my credit checked to see if I could be a cosigner my score was bad but above 500 so they excepted.Day of close both of us nieve in real estate and a ton papers we both signed but was told different meanings and lies I was a cosigner only and also his payments of 550 a month would go down in a year to 450 a month and within two days after getting equity loan I recieved a quick claim deed in my name for house and loan is soley in my name nothing is in my son's name anymore he wasted the money from eq loan buissness was a bust made no money he didnt pay taxes or equity payments 4 months now everything is in my name and only income in house is 637 a month the equity payments are 550 a month and I have to pay all bills and nesesitys food etc and the lender sold me to a co who buys loans soley not lender and they in turn sold me again also to a non lender just co who buys collects loans and they are threatening to start forclosure.The lender was a shady decietful company I shouldnt of been tricked into quick claim deed and have loan in my name only and no loan shouldnt of never been aproved with ratio of no income from son and my only income ssi 637 a month.How can I save the place I live and is their anything I can do or try to not get forclosed and kicked to street because we got loan we shouldnt of and the shady decietful lender who took advantage of us because we was nieve and believed lies and feel tricked is there anyway out of this before we loose all my nor my sons scores has changed so no second loans and plus we dont want be deeper in debt just wanted a home that's ours but my son who's mentally ill messed it all up by spending all money gettin eq loan and spending that also so we sit here both disabled me health wise him menntally my daughter is no help because she is full time student we are nerveous scared of forclosure and broke so we cant do anything about it and i recently had heart sergery and this stress is making worse anyone have any ideas and please no mean comments people are so cruel at times when they have no clue what you have been thru or how it got that way.someone help! more

Open Question: My wife is on the deed,not the mortgage, We are being foreclosed on. Can they come after her?

We reside in florida and own the home with no equity. The home in NJ has 2 mortgages. one for 412000 and heloc for 75000. I am on the mortgage only. She is on the deed. I am concerned that they can come after my wifes assets. Or do they just remove her interest in the home during the foreclosure process? more

Open Question: Are there investors who will purchase my 20% interest in an inherited property for cash?

In early 2007 my mother passed and left my parents home in sw WA state to five of us...so we each have a 20% stake in the sale of the house. One of the five was designated as executor to handle the estate details. The house has not sold, even with several small reductions in price and some rehab work done to make the property more appealing. My problem is....I'm a stock options guy, not a real estate guy, and would prefer to sell off my 20% in favor of cash in hand. The stock market will undoubtedly recover many, many months before the real estate market. The falling market values versus fair market price versus the executor wanting to get the most for the sale has me stuck owning 20% of a house I would prefer to liquidate at a discount in favor of having cash in my online trading account before the stock market rebounds sometime in 2009. Can anyone provide me search terms or links to investors who buy this type of inherited real estate equity at a reasonable rate? more

Open Question: Will a bank give a home equity loan based on the value of the house after the improvements are done?

I got a great deal on a house which I think I bought below market value. I only put 5% down. Since then, I've put in central air and heating (the house did not have AC before and it had radiator heat). I also pulled out the ugly carpet revealing the hardwood floor. I re-did the plumbing, and generally cleaned up the house. It looks much better than it did when I bought it. Also, the neighborhood looks a lot nicer than it did when I bought. Anyway, that's not my point. My point is I plan to do several other projects, and I want to take out a home equity loan. Is there a way the bank will give the loan considering what the value of the house will be when the improvement projects are done? I live in a neighborhood in Washington, DC where prices are not decreasing and are actually going up still. more

Open Question: Chances of getting into a top Finance MBA program, and plan B possibilities?

Hi, my friend (we'll call him John) graduated from a state university with a 3.2 gpa and scored a 730 on his GMAT. He has been president of his Minority Student Association for I think a year or two years (a member for 4) and has organized a successful fundraiser and a bunch of other things. He worked through undergrad as a Manager of a convenience store to support himself through college. The problem is, after graduating with his BSc, he did not get job offer anywhere so he packed up and went to his home country to get work experience as an intern as an Equity Trader for 3 months and then went on to become an Assistant Accountant for 3 months before coming back to the United States to find a job. Obviously that wasn't possible due to our economic situation here, but now he is applying to the top 10 MBA schools esp for Finance because he's always wanted to be in that sector, especially for investment banking. He has been unemployed now for close to 9 months now (although he has been applying everywhere).... Is there a chance for him to get into these schools, and if not what is a good plan B that could position him to apply again? Thanks so much for reading through if you made it this far and for any help you can provide. more

Open Question: When getting a home equity loan does the bank or credit union do an appraisal on your property?

When getting a home equity loan does the bank or credit union do an appraisal on your property? more

Open Question: What should I do with $9000?

Should I put the money in my savings account or should I put it in my mortgage? I have no equity in the home. My first loan is interest only and the second loan is principle and interest. more

Open Question: what are the steps of forclosure and time it takes to happen will I have days or weeks get out?

If you bought a home for 170000 in cash paid in full and two years later you get a lender to give you a 55000 equity loan when you shouldnt of been aproved with no job disabled on social security your payments are 550.00 a month and your told within 1 yr it would be lowered to 450.00 a month but your lender sells your loan to a collections so the payment stays 550.00 a month and you are behind in payments aprox 3300 behind and you recieve a letter saying pay this 3300 amount within 30 days or else we will start forclosure 30 days is monday what happens next I can't barrow or get anymore loans or extensions unless I come up with 2000 I cant no way possable.So what are the forclosure steps how long do I have can they come remove me etc I have no clue how forclosure goes down and what to expect will I get anything money wise from home?time to vacate?is there any places to turn for help when I was took advantage of with no income and disabled or can anyone tell me how forclosure goes down step by step so I'm not caught unexpected no where to go or store my belongings animals etc anyone know what happens or if i can stop this before winter and im sleeping in car more

Open Question: how do I avoid forclosure thats sapost to start any day now?

What can I do to avoid forclosure process from starting when I dont have anything to pay on a small equity loan? I paid cash 169000 for my home I got a equity loan on the house in amount of 55000 in 07 after I tried starting a buissness that failed and I shouldnt of never got aproved for the loan to begin with my credit score is and always has been bad and my only income is ssi disability i was coned 550.00 mo payments and my only income is 637.00 a mo I'm currently owing 3300 in equity payments they'll except 2000 give me time catch up but I'm unsure where I can get 2000 my score is bad so no loans. I was nieve and now scared can the bail out help me and when? and can I avoid forclosure from starting somehow soon?I even thought I may try to sell and in dec 05 i paid 169000 essesors office currently my home is worth 161000 but real estate comp wants me list for 100000 or less thats crazy any ideas please help i need keep this house untill value goes up some then try relist or sell by owner i also put close to 5000 in work and added a 6000 pool to 3 bedroom 1&1/2 bath full basement almost 3 acre property please help me with ideas how get more time. more

Open Question: Is a home equity line of credit worth it?

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. more

Open Question: How to remove someone off your Mortgage if they passed away.?

Trying to get a Home Equity loan and my husband has passed away but still on the loan how do I go about removing him off it? Thanks Ok that is the way i am going but the bank i am gettign the loan from is telling me I must by title Insurance for the loan amount or have to do a porbaited will to get him off and that is the texas law? Is that for real or just a way to make money? more

Resolved Question: My wife got $9000 through her work as a settlement. Do save this money or put it towards ?

our mortgage. We have two interest only loans and no equity in the home totaling $3500 per month. We have an additional $20,000 in savings for emergency funds. Any suggestions? Thanks more

Open Question: I got sued for a credit card?

After appearing in court twice, there was a non suit entry. Can this debt collector sue me again after they decided not to go on with the original suit? I am trying to get a home equity loan and the lender may ask i pay this guys first? what are my options? more

Open Question: what is refinancing your house? and how does it bring you money? also what is home equity?

Open Question: What obligations do I have in order to move from Canada to the U.S.?

I will continue to co-own my home and owe monies on equity based loans as my spouse is staying in Can. I have dual citizenship and will be working in the U.S. and want to deposit $$ to my existing joint Cdn. acct. to cover my part of AWD's each month. Do I have to tell my bank that I am leaving? Any suggestions would be welcome. more

Open Question: real eastate advice needed. active short sale is it a good thing or bad? ?

looking at buying my first home. not being familiar with the process or terminology i am not sure of the things to avoid. 5 years ago when i moved to this town the average home price was 250 two years later it rocketed to 450 now all of a sudden its back to 250 i do not want to wind up in the same boat as thousands of others are in. losing a home to foreclosure. the house i am interested in is an active short sale. i am not sure what that means. is it better or worse than a bank owned property? almost all the houses i look at are bank owned or active short sale. is either one a good opportunity for a first time buyer? and most important what types of loan do i avoid so that i don't lose my home in a few years? i want to know what my payments will be with no changes to them. ever. is there such a loan? is that a fixed loan? also what is equity? thanks so much more

Open Question: Based only on the completed spreadsheet, provide the following amounts (show computations): ?

Lester's Home Healthcare Services (LHHS) was organized on January 1, 2005, by four friends. Each organizer invested $10,000 in the company and, in turn, was issued 8,000 shares of stock. To date, they are the only stockholders. During the first month (January 2005), the company had the following six events: a) Collected a total of $40,000 from the organizers and, in turn, issued the shares of stock. b) Purchased a building for $65,000, equipment for $16,000, and three acres of land for $12,000; paid $13,000 in cash and signed a note for the balance, which is due to be paid in 15 years. c) One stockholder reported to the company that 500 shares of his Lester's stock had been sold and transferred to another stockholder for $5,000 cash. d) Purchased supplies for $3,000 cash. e) Sold one acre of land for $4,000 cash to another company. f) Lent one of the shareholders $5,000 for moving costs, receiving a signed six-month note from the shareholder. 1. Was Lester's Home Healthcare Services organized as a partnership or corporation? Explain the basis for your answer. 2. During the first month, the records of the company were inadequate. You were asked to prepare the summary of the preceding transactions. To develop a quick assessment of their economic effects on Lester's Home Healthcare Services, you have decided to complete the spreadsheet that follows and to use plus (+) for increases and minus (-) for decreases for each account. The first transaction is used as an example. Assets Cash Supplies Notes Receivable Land Building Equipment (a) + $40,000 Liabilities Notes Payable Stockholders' Equity Contributed Equity Retained Earning +40,000 3) Did you include the transaction between the two stockholdersâ€”event câ€”in the spreadsheet? Why? 4) Based only on the completed spreadsheet, provide the following amounts (show computations): a) Total assets at the end of the month. b) Total liabilities at the end of the month. c) Total stockholders' equity at the end of the month. d) Cash balance at the end of the month. e) Total current assets at the end of the month. 5) As of January 31, 2005, has the financing for LHHS'S investment in assets primarily come from liabilities or stockholders' equity? more

Open Question: who offers a 95% subordinated home equity line ?

who offers an equity line that can be subordinated to 95 % more

Open Question: Credit Cards Past Due - Need Advice about Credit Counseling/Negotiating/Bankruptcy Please!?

I have approx. 40K between 4 credit cards that I had before I was married. These credit cards are in my name only, not my husband's. I have always paid my debts on time and have never been late until the past few months. I am now past due 30-60 days and now owe late fees and over the limit fees and can't even afford the minimum payments any longer. I have been basically sticking my head in the sand about my financial situation for almost 2 years and borrowing from Peter to pay Paul. My husband and I jointly have a home loan with a balance of 92K and a home equity loan with a balance of 30K. Our home is worth about 120K so we have no equity. We are current and have never been late on our mortgage loans. We live in Indiana. My husband has a car loan in his name only. It is current and have never been paid late. My husband has 2 credit cards with a balance of 11K. These are current and have never been paid late. I now only work part-time making approx. $300-400 gross per month. I am trying to also substitute teach to make more money. My husband works full-time and this is how we afford to make our mortgage payment, car payments and his credit card payments on time. We are trying our best to make certain his credit stays good. My husband has a credit score above 680. I believe mine was 640 until the last few months - now I am sure mine is terrible due to my lack of payments. I am looking for advice. I have tried to negotiate with my credit card companies and offered to send as much as I can until I can find a higher paying job/more hours. However, they are not agreeing to this and won't stop the fees/high interest rates from accumulating. I almost feel like it is pointless to send anything because my balance just gets higher after sending a payment. I definitely want to pay my obligations. I have looked into credit counseling but until I have more income, I can't afford to make the kind of payments that is required. One counselor suggested that I file bankruptcy individually but I don't know if that is a real option since I am married. My husband's credit is perfect and I don't want to risk his credit. If I can/should file bankruptcy as my only option, can I still pay back my debt - just on my own terms that I can afford? If I don't pay my credit cards, what will happen? Can they take my house or affect my husband's credit? If they sue me, will the court allow me to make payments that I can afford? I know this is a lot of information and questions. I truly appreciate your help!!! The stress of this is killing me. I am so tired of worrying. I have twins so it is tearing me apart to have to put them in daycare in order to work full-time until they are a bit older. Plus, by the time I pay for daycare it's hardly worth it. Marq suggests ignoring the calls, etc. But won't the credit card companies sue me and then I'll even owe more? If they do sue me, can I get my house? more

Voting Question: Help!Legal problem. ?

My best friend inherited some money from her dad when he died, she got a loan for a home, due to credit problems, her boyfriend co-signed for the loan,with her putting down the down payment, the bank owns the home and holds the deed, they are still paying on it, they have acquired quite a bit of equity in the home, so is the equity in the home in danger per his creditors or his children, if his children gets power of attorney could they come in to play on the equity in the home. more

Voting Question: Help Please! Serious Legal advice needed.?

My best friend got several thousand dollars from her Dad when he died, she invested it in a house, however due to credit problems her boy friend co-signed with her and his name is now also on the loan of the home, his health is going down hill, does she need to worry if he has to go into a care center or he dies about his creditors or his children having any claim on the equity they have acquired in the home? Her boyfriend is telling her no, that would never happen and not to worry about it, I am telling her she needs to go to a lawyer. Thanks for any help. more

Voting Question: What does equity mean/What is equity?

What is equity? Like, when it relates to home properties and real estate? more

Open Question: What happens to the credit rating of someone who walks out of a non-recourse loan?

Specifically, I'm thinking of people who are "under water" on their mortgages, and simply make a rational calculation that they will be better off giving away whatever home equity they've already paid over to the bank in exchange for not having to make mortgage payments anymore. I mean, who can really blame these people if they decide to become renters instead of homeowners, right? What happens to their credit rating, though? I'm sort of young and have never gone through this process before, so I honestly don't know. I just don't get it. If you get a non-recourse loan, and put up an asset for collateral, and then decide to just let the lender have the collateral, how does that make you a bad/irresponsible borrower? The lender gets their collateral security, and then you just walk out the mortgage. As long as you never skipped payments before deciding to walk out of the contract, what's the harm? more

Voting Question: Do you really think Bush is the reason for our economy?

What about the liberal congress? In 2006, when the Republicans were in charge, consumer confidence stood at a 2 year high, unemployment rate at 4.5%. Since then, unemployment is up, consumer confidence has plummeted, home equity has dropped $1.2 trillion, $2.3 trillion in equity value has evaporated. Do you really think Bush is soley responsible? more

Resolved Question: Who will give me a loan?

My money situation was bad. My income lowered for about 6 mo. More money started coming in. Its getting better. I can make monthly payments again. Im 60 days out on everything, including my home. Right now im in pay day loan hell. I also have a few installment loans with HIGH interest rates. My credit is terrible. There is little to no equity in my home. Who will give me a loan? . I need $5000 to pay off everyone. Point me to the right finical institution. what kind of loan should i ask for? A creditor counselor said i should file for bankruptcy. She says i can do this and still keep my home. Is this an option? landlord, stick it instead of filing for food stamps i work two jobs, 40 hours + 30 hours equals one tired angry person. im not in debt due to overspending, im in debt due to circumstances beyond my control. my employer cut overtime. god bless my ex husband who pays child support, he cant now. lost his job when the company went bankrupt. i made a few bad decisions, but hell, im working it the best way i know how. Im gonna go change my vote for president. I want oboma in office so he can take your money and give it to me. theres your hand out. i became angry for a min. im good now. lots of love more

Resolved Question: whats the maximum house value i can afford?

280k annual income before taxes. stable. willing to put down a 250k downpayment. about 3k credit card spending a month have about 400k of equity in current, 500k home im looking at the higher ranges because the houses in my area don't give a lot of bang for the buck. i am 45. more

Voting Question: What is the best way to pay off credit card debt?

My credit card balance is $30,000. Would it be best if I take out a low interest loan for this amount, or home equity loan, or just keep paying on my credit card bill monthly? more

Resolved Question: MATH QUESTIONS...Unit 4:making informed decisions. PLESE HELP!?

nada and eric's monthly mortgage payments are based on a list price of $135,000 with a 25% down payment, an intrest rate of 6.5% comounded semi-annually for 3 years, and an amortization period of 25 years. Determine the equity the couple will build over the next 3 years if they buy the home. assume that the value of the home stays the same for the next 3 years. more

Voting Question: I just purchased a home appraised at 113,000 paid 67,000 . Can I borrow now on the equity or do I have to wait?

Voting Question: is Home Equity Loan of Credit a recourse or non-recourse loan?

I'm IN NH. thanks. more

Resolved Question: What is the moral of the story I have written?

The Ant & the Grasshopper The Original Version... The ant busts his butt in the withering heat all summer long, building his house and laying up supplies for the winter. The grasshopper thinks he's a fool and laughs and dances and plays the summer away. Come winter the ant is warm and well fed. The grasshopper has no food or shelter so he dies out in the cold. The New New Liberal Version... It starts out the same but when winter comes the shivering grasshopper calls a press conference and demands to know why the ant should be allowed to be warm and well fed while others are cold and starving. CBS, NBC, and ABC show up and show pictures of the shivering grasshopper next to film of the ant in his comfortable home with a table filled with food.America is stunned by the sharp contrast. How can it be, in a country of such wealth that this poor grasshopper is allowed to suffer so? Then a representative of the NAAGB (The National Association of Green Bugs) shows up on Night Line and charges the ant with "Green Bias" and makes the case that the grasshopper is the victim of 30 million years of greenism. Kermit the frog appears on Oprah with the grasshopper and everybody cries when he sings "It's Not Easy Being Green." Barack Obama and Hillary Clinton make a special guest appearance on the CBS evening news and tell a concerned Katie Couric That they will do everything they can for the grasshopper who has been denied the prosperity he deserves by those who benefited unfairly during the summer, or as Barack refers to it, the "Temperatures Of The 80's". Finally the EEOC with help from Nancy Pelosi And Dianne Feinstein drafts the "Economic Equity and Anti-Greenism Act" RETRO-ACTIVE to the beginning of the summer. The ant is fined for failing to hire a proportionate number of green bugs and having nothing left to pay his Retro-Active taxes, his home is confiscated by the government. The story ends as we see the grasshopper finishing up the last bits of the ant's food while the government house he's in....which just happens to be the ant's old house.... crumbles around him since he doesn't know how to maintain it. The ant has disappeared in the snow.And on the TV; which the grasshopper bought by selling most of the ant's food, Barack Obama, Bill and Hillary Clinton are standing before a wildly applauding group of Democrats announcing that a new era of "Fairness" has dawned in America. more

Voting Question: What do I do with this 3-party check from my insurance company?

The roof of my home was damaged in a storm. I paid a repair man to fix it. I filed a claim with my insurance company, and they sent me a check. The check was made out to me, my mortgage company, and a bank that holds my home equity loan. That seems weird to me. I understand that the mortgage companies have an interest in ensuring I take care of the house, but they don't have any right to the money, which is meant to reimburse me, right? Isn't the money mine? I'm the one who paid for the repair out of my pocket. I can't deposit the check without an authorized signature from each of the mortgage companies, right? I got an inspection from a home inspector/architect, who certified that the roof was repaired in a workmanlike manner, was properly shingled, etc. Isn't that enough to demand the insurance company make a check out to just me? more

Resolved Question: What would you do in this situation (homeowner in trouble)?

I bought a condo almost 2 years ago for 255,000 ;It is a block away from the beach in Long Beach, California. My first mortgage is 200,000 and my second is for 50,000. The HOA fee is 114.00 per month. In all, I pay 1716.00 per month. I pay 2,500 in taxes for the year. Now the value of the home is between 210,000 and 216,0000. In February, my payment will go up by 300.00 Yes, I've consulted with HUD and FHA. No help from either group. I feel like they aren't even listening to me. I am a teacher, and the non-profit that helped me obtain he home has folded. I have been rejected by 3 companies for refinancing because there is no equity in the home and the loan is "upside down". Litton loan sold my loan to two separate companies. I have made every payment. I have sent both companies hardship letters and am waiting for their reply. The attendants on the phone are "know nothings" and won't talk to me unless I don't make a payment. It freaked them out today when I said I am not paying this month until the situation is resolved...but still no answer. Should I walk away from the property? Is short sale an option? What a F-ing headache. I am crying each night about the situation. I am completely depressed. more

Resolved Question: What are home equity interest rates?

I've read home equity interest rates are higher than first mortgages but by how much? 1%-2% or more? I'd appreciate if you could give me just a general benchmark, assuming I have a good credit score. Thanks! more

Resolved Question: How can I build on my existing 1-story house?

I live with my parents in our house in the burbs. My two other sisters are living in their own apartments but we want to consolidate and live together in one house. The problem is the existing house is too small for us & I already own another apartment which I rent (No equity, i'm losing about $800 a month Vs. the Mortgage & other costs). I know it was a BAD idea to buy the condo but at the time (2005) it seemed like a good idea. My rents and I have a combined income of $120M(M=000) and we need a loan about $300M to tear down our house and build bigger house for all of us. We only have about $140M in equity in the existing home. The plans are ready and approved by the city. Once everything is squared away we will have a new loan of 300M (cost of construction) plus existing loan of 100M which I would like to combine but don't have to. We can all chip in & afford to pay about 4M a month for the new mortgage. My mom just spoke to a bank and they only offered her 100M in equity. Do you think it's possible for us to build this house? I just graduated from college so my income will continue to increase over time (CPA). My sister is starting her paid residency as a anesthesiologist this year. I know i'm trowing so many vague factors but any insight you could provide would be great. Can we build this house? What kind of a loan should we get? Someone told me i can keep taking out equity build, reappraise & repeat. Thanks for reading! more

Resolved Question: What about the house after a divorce?

My wife and I are currently going through a terrible time. She landed a bomb on me 4 weeks ago by telling me she wanted a divorce. I knew we had problems, but did not see this coming. We discussed our issues and she kept flipflopping her decision on whether she wanted to work it out with me over the past 4 weeks. Unfortunately, I had the worst day of my life on Thursday morning, when I found out that she had been having phone calls and texts to a male associate that works for her. When I pressed her on the issue, she finally admitted that she had commited adultery with him on Monday of this past week. I am at a complete loss after all the things that have happened to me in the past 4 weeks, but I want to try and keep my own situation straight. We have no children, and I am by far the financially strong person in our marriage, and I want to keep our home. She has no desire for the home, and right now says she wants to keep things amicable in the divorce. I am thinking about trying to co-own with her for awhile, because I won't have the money for a refinance, and don't know if my monthly income would get approved for a refinance of the home with the current credit crisis. I know I can pay for it myself, but I am worried that if I pay for it on my own as a co-owner with her for the next few years, and I sell it for a profit, she will want to take some of those profits, even though we have no equity in the home right now and would probably take a loss if we just sold it. Can a contract be drawn up that says she will co-own, but waives her rights to any profits or losses on the home during that time? more

Resolved Question: Can a lien be put on a house for money owed and ordered payable by 2010 in a divorce decree?

My divorce decree states my X owes me $18,000 payable by 2010 as it is half the equity in the home. I have learned that he has remarried and now looking at new houses and selling the house. With the real estate market in turmoil he will not make what he wants and anything he does, he is using for the new house. I was nice and didnt make him tap into retirement to pay my share of equity but I think I just screwed myself..... more

Resolved Question: Smaer people, what will you do? Sue the bank? Sue husband?

I finally get all fact straight and I visited lawyers. Bank of America signed a Home Equity Loan of Credit to husband a year ago. House is in NH, loan was signed in Ca, because we separated 8 + years and divorcing. Three months after Bank release the fund, Bank found out there are two people(husband and I) on the title. So Bank sent me the paper work to sign. no Signature of me, of course. Lawyer said I can save half of the equity by foreclosure but I don't want to move. Husband has got into 100k credit cards debt tried to keep up all bills. So my house value, at current market, is 350k to 390k, first mortgage 100k, HELOC is 250k,He doesn't want to have bad credit on his record. So he works hard to paying it. Lawyer asked 10k retainer fee and no one tells me how much it will cost till the whole thing straight out. Is it worth it for me to fight? I'm homemaker for 20 years. This matter bothers me so much and my health is going down and I'm so worried everything will collapse. my older kid goes to college,40k/year,She may not able continue because we can no long afford it. Advice on what the best I can do to save my kids and me out of this situation? more

Resolved Question: Can I sue bank and how much should it be?

I finally get all fact straight and I visited lawyers. Bank of America signed a Home Equity Loan of Credit to husband a year ago. House is in NH, loan was signed in Ca, because we separated 8 + years. (and divorcing but complicated by the house matter) Three months after Bank release the fund, Bank found out there are two people(husband and I) on the title. So Bank sent me the paper work to sign. I went/called bank few times but they refuse to tell me anything about it because it under husband name. Lawyers said as long as husband pays the loan, Bank will ignores me. Also, if husband defualt, Bank can take half of the house. Husband has got into 100k credit cards debt tried to keep up all bills. So my house value, at current market, is 350k to 390k, first mortgage 100k, HELOC is 250k, hubyy's credit cards debt is 100k. He doesn't want to have bad credit on his record. So he works hard to paying it. Should I keep looking for a good lawyer can fight for the justic? Lawyer asked 10k retainer fee and no one tells me how much it will cost till the whole thing straight out. Is it worth it for me to fight? I'm homemaker for 20 years. This matter bothers me so much and my health is going down and I'm so worried everything will callapse. my older kid goes to college,40k/year,She may not able continue becasue we can no long afford it. Advice on what the best I can do to save my kids and me out of this situation? ya, I do blame the husband, but with/o bank's mistake, hubby couldn't hurt me. Do I stand a strong case to sue the bank for half a million? a million? a quarter million plus lawyer fees? more

Resolved Question: smart people, what will you do in this situation? Thanks.?

smart people, what will you do in this situation? I finally get all fact straight and I visited lawyers. Bank of America signed a Home Equity Loan of Credit to husband a year ago. House is in NH, loan was signed in Ca, because we separated 8 + years. Three months after Bank release the fund, Bank found out there are two people(husband and I) on the title. So Bank sent me the paper work to sign. I went/called bank few times but they refuse to tell me anything about it because it under husband name. Lawyers said as long as husband pays the loan, Bank will ignores me. Also, if husband defualt, Bank can take half of the house. Husband has got into 100k credit cards debt tried to keep up all bills. So my house value, at current market, is 350k to 390k, first mortgage 100k, HELOC is 250k, hubyy's credit cards debt is 100k. He doesn't want to have bad credit on his record. So he works hard to paying it. Should I keep looking for a good lawyer can fight for the justic? Lawyer asked 10k retainer fee and no one tells me how much it will cost till the whole thing straight out. Is it worth it for me to fight? I'm homemaker for 20 years. This matter bothers me so much and my health is going down and I'm so worried everything will callapse. my older kid goes to college,40k/year,She may not able continue becasue we can no long afford it. Advice on what the best I can do to save my kids and me out of this situation? more

Resolved Question: smart people, what will you do in this situation?

I finally get all fact straight and I visited lawyers. Bank of America signed a Home Equity Loan of Credit to husband a year ago. House is in NH, loan was signed in Ca, because we separated 8 + years. Three months after Bank release the fund, Bank found out there are two people(husband and I) on the title. So Bank sent me the paper work to sign. I went/called bank few times but they refuse to tell me anything about it because it under husband name. Lawyers said as long as husband pays the loan, Bank will ignores me. Also, if husband defualt, Bank can take half of the house. Husband has got into 100k credit cards debt tried to keep up all bills. So my house value, at current market, is 350k to 390k, first mortgage 100k, HELOC is 250k, hubyy's credit cards debt is 100k. He doesn't want to have bad credit on his record. So he works hard to paying it. Should I keep looking for a good lawyer can fight for the justic? Lawyer asked 10k retainer fee and no one tells me how much it will cost till the whole thing straight out. Is it worth it for me to fight? I'm homemaker for 20 years. This matter bothers me so much and my health is going down and I'm so worried everything will callapse. my older kid goes to college,40k/year,She may not able continue becasue we can no long afford it. Advice on what the best I can do to save my kids and me out of this situation? more

Resolved Question: What Do I need to Qualify for Debt Consolidation Loan?

Not credit counseling, but debt consolidation loan. Can't find any good info on the web, so your educated opinion would be helpful. What are credit requirements, home equity requirement, debt service ratio and other factors? If you know a good resource that would be very helpful as well!! Thanks. more

Resolved Question: Can I get a home equity line of credit on an owner financed home? Have legal contract. I live in TX.?

Is it even possible? Want to do remodeling, pay off son's car etc. Will also pay off house so I won't have two "mortgage" payments. From what I've heard a HELOC is easier/faster to get. What I want to do is take out the complete amount and lock in the rates of the amount I draw out.The reason for doing a HELOC instead of cash out refi is less hassle right? (inspections, surveys and all the assoc. finance bs fees) And you can lock in the rates on the financed portion of the HELOC, with the balance paid like a conventional loan. And those locked in rates aren't that much different than reg. financing.... just less paperwork hassle right?? Don't forget it's an owner financed home w/ legal notarized contract. House worth 80k, considering 40 to 50k HELOC. Thanks! The part where I'm not the title holder doesn't make since because they make HEL's and HELOCS to people that haven't paid off there home mortgage, hence aren't the title holder. I wasn't getting the HELOC "to buy things" I have no credit cards etc. the only loans I have are mine and my sons vehicle. This is the reason to do it, less debt/payments and getting things fixed. I would pay off the house 12k, no more payments, pay off sons car 3k, no more payments, remodel some, need new hvac, general repairs, doing this would lower my monthly outgo by about $450. I would have the rest in savings for college, he starts next year. The reason I was considering a HELOC was I thought it would be easier (less paperwork, inspections etc., and maybe less requirements). And the reason to take all the money out of the HELOC and lock it in was just incase later the economy goes to...uh.. heck, and they can't withdrawl the loan/offer (which I read they could) I'll need it later (college) good info! more

Resolved Question: Just got this e-mail- what do you think? Facts?

TO ALL, LIBERALS OR CONSERVATIVES...FYI only. George Bush has been in office for 7 1/2 years. The first six the economy was fine. A little over one year ago: 1) Consumer confidence stood at a 2 1/2 year high; 2) Regular gasoline sold for $2.19 a gallon; 3) the unemployment rate was 4.5%. 4) the DOW JONES hit a record high--14,000 + 5) American's were buying new cars,taking cruises,vacations overseas, living large!... But American's wanted 'CHANGE'! So, in 2006 they voted in a Democratic Congress and yes--we got 'CHANGE' all right. In the PAST YEAR: 1) Consumer confidence has plummeted ; 2) Gasoline is now over $4 a gallon & climbing!; 3) Unemployment is up to 5.5% (a 10% increase); 4) Americans have seen their home equity drop by $12 TRILLION DOLLARS and prices still dropping; 5) 1% of American homes are in foreclosure. 6) as I write, THE DOW is probing another low~~ $2.5 TRILLION DOLLARS HAS EVAPORATED FROM THEIR STOCKS, BONDS & MUTUAL FUNDS INVESTMENT PORTFOLIOS! YES, IN 2006 AMERICA VOTED FOR CHANGE.AND WE SURE GOT IT! .... REMEMBER THE PRESIDENT HAS NO CONTROL OVER ANY OF THESE ISSUES, ONLY CONGRESS. AND WHAT HAS CONGRESS DONE IN THE LAST TWO YEARS, ABSOLUTELY NOTHING. NOW THE DEMOCRATIC CANDIDATE FOR PRESIDENT CLAIMS HE IS GOING TO REALLY GIVE US CHANGE ALONG WITH A DEMOCRATIC CONGRESS!!!! JUST HOW MUCH MORE 'CHANGE' DO YOU THINK YOU CAN STAND? more

Resolved Question: i need informationrmation concerning a loan does anyone know about different types of loans and requirements?

I applied for a small equity loan and have been aproved for the equity loan on my home,i'm awaiting a cash out ,that ill get 4 days after closing,i do not have closing date but should today.i started a small buisness and do not have any credit history yet,and i get paid by check after each job is finished in full so i can't get a payday advance,and my buisness is at a stand still awaiting this cash out in masonry it takes cash to make it gas for cement mixer and saws and transportation to and from job site and also to search for jobs etc...knowing my luck it'll be about 2 more weeks before i actually go to closing and im even out of basic nessesitys so is there any loans out there i may apply for&possably get aproved and recieve within a few days to tide me over untill i recieve the cash out? more

Resolved Question: How soon can you get a home equity line of credit if you bought a home with equity already in it?

We closed escrow on 10/21/2008. more

Resolved Question: Can my partner get a home equity line of credit without my signature?

My partner and I are splitting up. We own a home together. Can she take out a home equity line of credit without my signature? more

Resolved Question: What else can I do to live off of significantly less income?

I was making a lot more money. I am making about 45% less now then I was last year and several years before that. My income fell about 6 months ago along with the economy. I'm in sales. My home, car and everything else is based on my former income. I've made adjustments in my spending, I no longer eat out, I no longer get coffee at the coffee shop, I am not buying clothes, I am not going out really to anything that costs money like movies, bowling etc, I'm cutting coupons/buying generic and just am trying to cut every unnecessary expense. I am also being very conservative with heat and electricity etc. And still I barely have enough to cover basic living expenses. The situation is further exacerbated by loss of health care coverage with a disabled child. So, what's next? Both my car and house have negative equity. So I can't sell either and even break even. But those are by 2 biggest expenses. I'm feeling hopeless right now and don't know what to do. I need my car to keep working and the housing costs here are very high and I don't think I'd be able to save much in housing by moving. Perhaps I shouldn't have gotten so comfortable with my income, but I was living well within my means before and was able to contribute to savings and my sons college fund etc. Now the savings is almost gone and other money is tied up in funds with hefty penalties for early withdrawal, plus would only be a temporary fix, I need long tern solutions. more

Resolved Question: Another stupid question about marriages, equity & the division of labor?

My wife is a stay at home mom taking care of our young children (12,15,18) even though she has no income because we are partners she likes to claim that she makes half of the income that I bring home from sundry sources. But even though she makes half the income I actually earn. She does all the laundry. It seems to me that if she does make half of the income then I do half the laundry. So what do you think. Just to clarify. She is the one upset by the balance of labor. She was the one who thought that it was unfair. For what it's worth the argument is about laundry and housecleaning only. I do all the cooking, grocery shopping, take the kids to school and pay all the bills...but she's teh one complaining more

Resolved Question: Is is smart to combine our Home Equity Line of Credit, and our Mortgage?

We own two homes, one of which we rent out. We have a HELOC on our second home, on top of our regular mortgage. Would it be smart to keep these separate, or combine them into a new first mortgage since rates are so low right now. Would it be worth all of the money? When you are re-doing your first does it cost just as much as it did the first time? Thousands of dollars? We are meeting with our banker next week, but just wanted to get an idea of what we should do without them trying to sell us one way or another. Our Mortgage is a fixed rate and we pay $850/mo and our HELOC is a variable rate and we currently pay $200/mo. I should have left out our second home. ALL of this is regarding ONE home, not the two together. We don't need the Home Equity Line... we just thought we could save some money by combining it and the mortgage that it is on. The home is worth 275k [according to recent appraisal] and we owe 175k more

Home Equity News

home equity

BRISBANE, Australia (AP) -Striker Archie Thompson returned from suspension and scored the winner as Melbourne moved atop the Australian A-League standings with a 1-0 weekend win over Queensland, which is finding it impossible to win at home. Thompson ...

Melbourne takes outright lead in A-League - CBS Sportsline

Talk about drowning in debt. Almost 8 percent of Washington state homeowners with mortgages are "under water" â€” that is, they owe more than their home is worth. An additional 11 percent are close to the waterline, a new report shows. Startling as ...

Home equity is gone for many mortgage holders - Seattle Times

PORTLAND, Maineâ€” Maine car dealers are turning to credit unions and other sources for third-party loans for their customers as bank financing becomes tighter. Maine-affiliated banks are joining the ranks of national lenders who have cut back on or ...

Maine car dealers seek new third-party lenders - Boston Globe

There's no doubt that you've been hearing a lot about the credit crunch, but do you know what it actually means for you as a consumer? Judging from the questions I've been receiving, many people do not. That's because it's complicated, and if you're ...

Don't let your credit score keep you from a loan - MSNBC

NEW YORK : These are interesting times. Jobs are disappearing and General Motors is running out of cash. At the same time, America has assuaged some of its deepest wounds with the election of Barack Obama. We have less money in our pockets but more ...

Roger Cohen: Emptying Pandora's box - International Herald Tribune

ONLINE FEATURES Book Reviews BW Video Columnists Interactive Gallery Newsletters Past Covers Philanthropy Podcasts Special Reports BLOGS Auto Beat Bangalore Tigers Blogspotting Brand New Day Byte of the Apple Economics Unbound Eye on Asia Fine On ...

PREMIUM CONTENT MBA Insider - BusinessWeek

The landscape of Georgia politics has changed dramatically in the wake of Tuesdayâ€™s election. It has changed in ways large and small, ways easily identifiable and in ways that are hidden among the data. It is an atypical outcome disguised as ...

Democrats make gains in Georgia - Atlanta Journal Constitution

Three million homeowners, or more than a fifth of households, could end up in the trap of negative equity, with mortgage debts larger than the value of their property, as house prices continue to plunge, new City estimates show. Bank of England ...

Three million homeowners face negative equity trap - Times Online

The current housing crisis and other economic woes are taking their toll on people's wallets. Caught between escalating mortgage payments and rising fuel and food costs, many folks are having difficulty paying their bills. Not so long ago, some ...

Borrowing from retirement accounts a costly mistake - News-Sun

Nov. 9 (Bloomberg) -- Persian Gulf shares fell for a second day, led by real-estate companies, as lower oil prices and the global credit crisis damages investor confidence in the economy. Emaar Properties PJSC , the Middle East's biggest publicly ...

Home Equity Links

No news is good news.

Mortgage calculator

Deals