Questions about obtaining a Home Equity Loan?

Answers:10   |   LastUpdateAt:2019-04-07 20:12:51  

Asked at 2012-09-04 07:55:03
Ok , so I have a couple of questions , since I'm thinking about looking into getting a home equity loan , I will try to include as much information as I can so that you are familiar with my current situation . MedlinePlus MedlinePlus So think about putting the house ( home # 1) on the market in the next year or two and have the ready market that needs some work . Besides all this I have to buy two cars for my kids , so I thought a home equity loan will be able to cover these costs . I have two houses . Home # 1 was priced at $ 860,000 and has $ 172,000 remaining on the mortgage . Home # 2 was assessed for $ 760,000 and has $ 163,000 remaining on the mortgage so I like to think I have a decent amount of equity . I have a credit score can be about 720, and make about $ 180,000 / year. I have never missed a mortgage payment , or any payment in general in the last three years . I really like to get about $ 100,000 if it is plausible . I'm so confused as to how to go about this, and some say get a home equity loan refinancing others say . What is your personal opinion , and why ? I am grateful for all the help and advice to share!
Answer1JameishaAnswered at 2012-09-04 10:51:02
Oh, and why do you need to buy two cars for their children ? If you are old enough to need a car old enough to pay for one. And if you end up buying them , buy a decent used car . MedlinePlus MedlinePlus Talk to your bank about a home equity loan . Depending on when the assessments were made , can be high , but in almost all cases that appear to have substantial equity .
Answer2사람이나 사물Answered at 2012-09-12 04:45:04
There is an easier way
. Get car loan from a credit union . MedlinePlus Navy Federal is currently offering 1.99% for car loans . MedlinePlus Most other credit unions are at 2.99% . MedlinePlus Also try small regional or local banks . MedlinePlus MedlinePlus Get your children to co - sign the loan - may be able to pay themselves back MedlinePlus . This will build your credit. If they can not pay - you'll pay MedlinePlus . Will the car - asking them to pay the payments will give them a sense of responsibility MedlinePlus . MedlinePlus Make small HELOC on your primary home for repair. MedlinePlus No refinancing - you are paying too close to homes and achieving your goal of having a mtg MedlinePlus not when you retire . /
Answer3KeiraAnswered at 2012-10-15 14:35:05
I'd say make a withdrawal instead of refinancing a home equity loan , MedlinePlus MedlinePlus Is likely to get a better deal on the refinancing and make it a little simpler paperwork wise when the property is sold within a year or when ... because it is not a mortgagee second ... MedlinePlus MedlinePlus Whether you should buy things with the equity in your home is your decision , with mortgage rates as low as they are and as long as the cancellation of the loan rather quickly , IMVHO it makes more sense to refinance and only have one payment . .. Making 180 g to be debt free in 60 months, MedlinePlus MedlinePlus If not , you are doing something wrong ... MedlinePlus MedlinePlus Just do not keep digging yer'self more debt ... MedlinePlus MedlinePlus Good luck ...
Answer4KaykaAnswered at 2012-10-27 16:38:30
The answer depends on many different thing MedlinePlus MedlinePlus Based on the amount of assets that are in the realm of someone who should not be making big financial decisions on their own. You need professional financial assistance . MedlinePlus MedlinePlus You need to be building a personal relationship with an advisor . Some professionals
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