 Whenever looking at an apartment listing and it says 1200/2bdr does that mean 600 per person? |
I am talking about on Craigs list and such. Is it split between the two people or 1200 per bedroom?
Additional Details
As far as rent goes.... |
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| My boyfriend and I are living in a home that is in my name. We agreed that if I can transfer into his name than I can move out. How can we do that?... |
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| the dishwasher did not work and the shower dont get hot,none of this was mentioned when i veiwed the property,can i get the vendors to put this right.... |
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| I currently live in Halifax, an hour away... thinking of buying my first house in Manchester because there's more going on! Although I'm familiar with the centre I don't know which ... |
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 Is this a reasonabe offer on a house? |
There's a house that is listed at $179,900 that we want to put in an offer on, is this too much to ask for?
-$169,900 offer
-Closing Costs Included
-All appliances included (... |
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 Can renter not pay rent for buying things for the house? |
| So my renter contacted me about some things she wanted for the house, new carpet in bedrooms, heating, etc...and I was out of town on business but told her I would have a contractor come over when I ... |
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 How much should I charge someone to park their RV on my property? |
They will be parking overnight every day, will use electrcity every now and then, but will not have access to the house.
I live in Orange County, OC.
Please give advice on the price I... |
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| We moved into a place, we never got a lease to sign after asking quite a few times to sign one. We verbally agreed to stay a year. Very noisey people moved in below us a couple weeks later and we ... |
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 I'm renting a home & the owner wants to sell? |
I'm renting a house & the owner wants to sell it.
He wants to show it this weekend, I only have 1 day to get it together but my question is do I have to let people in my home when my ... |
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 I'm losing my home..? |
| i bought my 1st home as a single mom in 1995. 8 years later sold it and bought my 2nd home alone. well, i fell in love with a soldier, left my 60k/yr job to relocate with him. now unemployed, we are ... |
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 How do low income people afford buying a house? |
| I literaly do not have any capital to put down a significant down payment. For those who are working poor, how can they seek and afford to purchase a home?... |
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sardines packed in a can | What is a home equity loan? |
i'm pre-approved for a home equity loan of up to 125,000.00. what exactly does this mean? (i realize this sounds like a dumb question) |
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Dogzilla
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"up to" is the key phrase here.
If you have owned a home for a few years, you have equity built up in it.....In other words, you could sell it for more than you owe on it.
Lenders are willing to take a mortgage on your equity in turn for loaning you part of that equity. If you are having fianancial problems, that is a good way to lose your house. Be careful. |
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Kaaren1969
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It means that you can get a loan based on how much "profit" you would make if you sold the house you currently own. If you owe $90k on your house, but were able to sell it for $215,000, you have $125,000 in equity built up in your home and can borrow against that. You would have a new loan payment to make, and if you ever sold your house, you HAVE to pay the home equity loan off, so less profit for you in the end. |
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capnemo
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Let's say you have a home worth 200,000 You owe 100,000 on it. Your equity in the home is 100,000. Equity is the difference between what the home is worth and the balance due on the home. Hope that helps. |
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bgoins99
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I got all the information I needed from the following site:
http://homearama.blogspot.com
I ended up going with http://www.surepoint.com for my home equity loan. They are very thorough and I really felt like they wanted to help me. |
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Neil B
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Your equity is the difference between what the home is appraised for, and what you owe on the mortgage(s). A home equity loan is a loan secured by your equity. Normally, banks will only allow you to take a certain percentage of your equity out as a loan, say 75%. So if you have a house that appraises for $200,000 and you owe $100,000 on the mortgage, the bank may allow up to a $75,000 home equity loan.
A home equity line of credit is similar, except that they don't front you the whole $75,000, you just have it available to borrow against, as you need it. This saves you paying interest on money you're not using.
I'm guessing a bank sent you something in the mail saying you can get a home equity loan. Don't take the first offer they send you - negotiate the rate and loan fees, and talk to a couple different banks. And don't use it unless you need it - it's not free money. |
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Mary
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A home equity line of credit (HELOC) acts somewhat like a credit card, where you can take out only what you need from your available credit. The difference being that a HELOC is secured by your home, like a mortgage, whereas a credit card is only personal debt.
HELOCs can be great, because the interest can be tax-deductible, and it can help you finance home improvement projects or pay off higher-interest debts. But spend it wisely, because the minimum payments are usually interest-only, so even if you pay your minimums faithfully for 30 years, you will not have paid off any of the principal. And, the interest rate is usually variable, like a credit card, so your minimums will change month to month.
Your best bet is to use it as a last resort, and when you do use it, budget paying double the minimum balance every month. |
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Mr. Smoothie, aka Mr. SmartAss
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Home equity is basically the differnce between what you home is worth and what you owe on your home...Banks will give you a home equity loan up to the difference in values..It is almost like a second mortgage... |
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Diane
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It is when you borrow money from the equity you have in your home. Equity is the value of your home minus what is still owed. One thing to beware of, are those ads you get in the mail that claim "home equity loan of UP TO (key words) some big amount".
Very rarely, if at all, would you be eligible for the amount they promise. You would first have to have that amount available in your home equity and then have to qualify for the loan.
Companies like these are just reeling you in for a high interest loan of a couple of thousand dollars. |
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mortgage help
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throw that junk mail away! It's a second mortgage to borrow against the remaining equity in your home. |
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Herschel K
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Borrowing against the equity in your house. House worth 300K, you owe 150K, your equity is $150 and you get a loan for some portion of the 150K equity.
Home equity loans are how your seemingly modest income neighbors have been driving a big SUV or BMW these past few years. They seem to have a lot of money, but in reality they're a paycheck or two away from being on the street. |
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kevingeorgecampbell
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A loan based on the amount of equity a homeowner has in the property. The interest paid on a home equity loan is usually deductible. Unlike a home equity line of credit (HELOC), the home equity loan features a fixed rate, payment and term, usually five to 15 years.
If you don't repay the debt, the lender can take your collateral and sell it to get its money back. With a home equity loan or line of credit, you pledge your home as collateral. You can lose the home and be forced to move out if you don't repay the debt.
There are two types of home equity debt: home equity loans and home equity lines of credit, also known as HELOCs. Both are sometimes referred to as second mortgages, because they are secured by your property, just like the original, or primary, mortgage.
Home equity loans and lines of credit usually are repaid in a shorter period than first mortgages. Most commonly, mortgages are set up to be repaid over 30 years. Equity loans and lines of credit often have a repayment period of 15 years, although it might be as short as five and as long as 30 years
A home equity line of credit, or HELOC, works more like a credit card because it has a revolving balance. A HELOC allows you to borrow up to a certain amount for the life of the loan -- a time limit set by the lender. During that time, you can withdraw money as you need it. As you pay off the principal, you can use the credit again, like a credit card.
A HELOC gives you more flexibility than a fixed-rate home equity loan. It also is possible to remain in debt with a home equity loan, paying only interest and not paying down principal.
A line of credit has a variable interest rate that fluctuates over the life of the loan. Payments vary depending on the interest rate, the amount owed and whether the credit line is in the draw period or the repayment period.
During the equity line's draw period, you can borrow against it and the minimum monthly payments cover only the interest, although you can elect to pay principal.
During the repayment period, you can't add new debt and must repay the balance over the remaining life of the loan.
The draw period often is five or 10 years, and the repayment period typically is 10 or 15 years. Those are generalizations, and each lender can set its own draw and repayment periods. Lenders have been known to have draw periods of nine years, six months, and repayment periods of 20 years
With either a home equity loan or a line of credit, you have to pay off the balance when you sell the house
If you or anyone you know needs advice or quotes on this type of loan please feel free to email me. |
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i pack a 44
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if you buy a house for $350,000 and and you have paid say $80,000 in notes ..than you have $80,000 dollars worth of eqity into your home.. than you can take out a loan for up to the amount of equity you have in the house |
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Linda
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As far as I've understood from searching on it earlier, it means that the loan will be secured by the borrower's residential property.
Other words, as far as I understand it, if you don't pay your loans or whatnot, they can go for the house and sell it to cover their costs. |
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ann
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It means they will allow you to take that much money out of your home, decreasing its value. But you will be fixing up the place and expecting to get it back out of the property. It's your gamble if that is worth the money. Either way, the bank will come out fine because they can always take the house. |
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