 Is it a good idea to buy repossessed/foreclosed homes? |
| i'm a first-time home buyer and i want to buy a house that i can afford and that won't give me as much stress when it comes to finances.... |
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 Can some one help me? I have applied for a loan and the loan was approved.? |
| I haven't got the closing date yet. How long after the approval dose it take for the closing to happen? The company I am working with is a broker. They say I have been approved and I have ... |
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 Can i get personal loan without mortgage anything? |
| i don’t have enough money in my bank account,in fact I don,t even have any job right now,but I wan,t to invest in real estate,can I get personal loan from any bank without mortagage anything?im an ... |
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 Is 45k a good salary for a 22/yo male living in Tucson? |
I'm going to be moving to Tucson in 6 weeks, and I was just wondering if 45,000 dollars a year gross is a good salary for the city/geographic area. Any thoughts?
Additional Details
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 Not happy with interest rate on Closing, Can I still get another Loan from another company? |
I am a first time homebuyer. Is this a good deal?
Selling Price: $232,000 House on Lennar - Las Vegas, NV
Benefits:
Seller will pay 3% Down Payment: roughly $7000
Seller ... |
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 If I I accept an offer on my house that is less than what I owe, what happens? |
| I am selling my house for $159, if someone offers $150 and I still owe on the loan; will I be expected to pay the difference at closing or will the loan company work with me? (There is no Equity in ... |
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 Tenant & landlord question. My washing machine flooded and water came through the ceiling downstairs? |
| The water has left a patch on the ceiling and a thin crack - it hasn't damaged any contents - can anybody tell me if this comes under the buildings or contents insurance. As a tenant i don'... |
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 Closing home in 2 months...Should I buy furniture yet? |
Hi everyone!
We are buying our first house. We do not close until the end of April, but we have found some really nice pieces of furniture on sale now.
My parents have offered to buy the ... |
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 How to remove mother in law off title of house? |
| The morgage loan is in mine and wifes name, not mother in law. I make the morgage payments, no one ... |
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 Why do helicopters fly low in circles at 2 am over my neighborhood? |
| This happens 2-3 times a month, never in the day, usually at 2, 3 sometimes 5 am. In strange flight patterns, starts to the east, ends in the south and they mix it up real quick. They dont have ... |
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 Mortgage refinance? |
| My husband and I bought a house in October with a no documents loan and ended up having to split our mortgage and have two smaller loans. Our mortgage servicer recently called and said that they have ... |
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 My tenants owed 4 months rent & vacated the property on the court date. How can I get their current address.? |
| My previous tenants owed 4 months rent & vacated the property on the court date. They vandalised my property before leaving. They still live in SE London, and I have seen them a few times at the ... |
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steve_delprete | I own my condo free and clear, but need cash. What kind of mortgage should I get? |
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geom1974
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you should refinance or get a home equity loan not get a mortgage- go to lending tree.com and check out rates and apply to get multiple rates and offers then pick the best one for you |
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Daniel Boone's Farm
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Home equity line of credit. |
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redsyoungstud
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none go to you bank with mortgage title ask them to hold it as a security, against a revolving line of credit, that you can use as you need, pay off and re use as you need it. do not take out the full value of your house but only the min required to get you through the situation. |
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Jennifer G
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You didnt say how old you are. If over 62 you could do a reverse mortgage and not have to make any payments on the cash received until the home is sold. |
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BoomChikkaBoom
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A HELOC would be your best bet. You can draw out only what you need and pay it back as quickly as you want. |
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Sean O
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You should get a Line of Credit that you are able to lock. Most of them do not offer this feature. In a rising rate market you dont want to be stuck with an adjustable line. They also have $0 closing cost lines, but you will pay a higher rate. If you have any questions you can email me at seano@mortgage4life.com |
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Lion J
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I would recommend doing a Home Equity Line of Credit, known as a HELOC.
I am a real estate investor, and I use the equity in my home to buy other real estate. I can write off the intrerest all year long, and leverage the equity to the limit, for even more tax savings and capital appreciation.
Check with your CPA. If you don't have one, get one. They're golden. |
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Gee
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Equity line of credit, i suggest gettign it from your bank, verses a morgage company |
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boston857
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There are 2 types of secured credit you can get. 1) A revolving line of credit which operates like a credit card. That means that you can draw on it so long as you do not exceed the credit limit.
2) A closed-end line of credit e.g. a home equity line of credit which means that you cannot redraw on the balance as you pay it down.
Both of these types of credit can be offered by any bank or other financing instituion secured by a first deed of trust on your condo....there are some financing costs associated with these kinds of credit so ask about that....
You may also be a good candidate for an unsecured personal loan since you do not have a first trust mortgage...citifinancial provides excellent unsecured personal loans....there is a small fee for this kind of loan but at least you do not have to offer up title to your condo as security......
Check out all 3 options and decide which is financially best for you..... |
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J O
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I hate to be so blunt and bold but everyone in this thread is incorrect.
If you need money available to you at all times (similar to a checking account) then a HELOC may not be a bad idea. But if you are looking for a one time cash out to pay off debts, or buy another condo as an investment you should do a cash out refinance. The reason everyone in this thread is wrong is because a HELOC has a floating rate. That means that as the economy and real estate markets improve the rates will likely go up. If this is a one time expense you are better off getting a FIXED rate on a cash out refi. Not only will the rate be lower at the start but that low rate will be locked in and not floating at the whims of the market.
Admittedly the commissions for a cash out refi aren't nearly what they are for a HELOC but you said you wanted to receive good advice not be sold an inferior product depending on your needs.
If you have further questions or have a specific scenario in mind feel free to email me. I look forward to recieving may "thumbs down" responses for my answer. |
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