Home equity loan vs. home equity ling of credit? related questions

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Home equity loan vs. home equity ling of credit?0chantelle2012-11-05 13:26:06
I own my home and its approximateey worth is $275,000 or more. I just want to prepare for the recession upcoming. I want to use the money for variable things, like addition of a second bathroom, new walkway, new roof for my 100 year old shed, some medical bills, and some to get me by in-case of possible layoff or closing off store since I am in retail. As of right now I have no outstanding dept. but that could change quickly if I lose my job. I am 61, and can not find anything to fall back on. Is a loan better or a line of credit?
Which is better? Refinance, home equity loan, or home equity line of credit? To buy a car and remodel home.?1taleen2012-10-06 01:43:03
Which is better ? Refinance , home equity loan or home equity line of credit ? To buy a car home and remodeling . ?
Is a Home Equity Line of Credit or Home Equity Loan used to buy a second home tax deductible beyond $100,000?0confidence2012-11-03 06:41:28
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?
Home Equity Loan, Home Equity Line of Credit or a Personal Loan?0josy2012-09-14 21:10:05
A newborn baby entered our lives and before his birth , I had a bit of credit card debt that should have been taken care of and was not. My wife is working part-time rather than full time, it has been very difficult . Our debt is not improving . MedlinePlus MedlinePlus We borrowed money from his immediate family to buy our house so that the loan is a low APR is not technically on our credit. We still have to consolidate our debt (credit cards , car loans , etc. ..) , but not sure which way to go . Sounds like a home equity loan is the best option because the APR is generally fixed and Typcial is like a loan . MedlinePlus MedlinePlus Do you have any suggestions for us ? We do not want to damage our credit so we have to make the best choice . MedlinePlus MedlinePlus Thank you !
What happens if I take out a home equity loan with no plans of paying my mortgage or home equity loan back?1micy2012-10-07 02:37:04
This way I will eliminate $ 120,000 I owe my first mortgage and take cash $ 100,000 of equity loc . They can have my house and ruin my credit for $ 220,000. This can not be legal is it? I really would not do this , but my wife can .
Does Bankruptcy chapter 7 allow me not to repay the home equity loan if there is no equity in it, but I keep i?0milo2012-10-03 17:36:59
Good morning ! MedlinePlus I'd like to ask a question, to help me determine what is to file for bankruptcy or not. MedlinePlus I have a house and pay the mortgage ( in progress) . I'll keep a house if file bankruptcy. MedlinePlus On the other hand I have a home equity loan ( secured by my house ) of lener other than my mortgage lender . MedlinePlus My question is - I can claim loan ( $ 100,000 ) as unsecured - and debt and equity dischargable no home and appraisal value shows only about 250,000 , but the mortgage is 500,000 .
Can the interest/payment on a home equity loan be deducted as home office expense, the same a home mortgage ?1hamlet2012-09-16 07:31:04
I have been asked to set up a home office for the benefit of my employer . I will work from home every day . I know I can deduct a portion of my mortgage payment and utlilties of my taxes, but I can deduct my payments on home equity loans ? Should I consolidate both loans to get the full tax benefit ?
Can I get a home equity loan with Bad Credit. i OWN My home and its fully paid for?3luli2012-10-02 07:00:03
I went to the bank today and tried to get a home equity loan , but I refused because I had bad credit. I have a steady job I've worked in over 5 years, I own my home and is fully paid. I drive a 2006 Mustang GT, but I still refused because of bad credit. I wanted to get the money to fix my house becuase they need new pipes and heating system , so it would not blow the money. My credit is not super bad but it is still good , is it possible for me to get a home equity loan without good credit. I do not want any material loan online or stuff like that . I live in a small town and not many banks and need this loan before winter. ¿ I can get this loan with my bad credit ?
What is better, home equity loan or line of credit on home I own outright?1reisom2012-10-05 15:45:03
I just finished building my house and I have no mortgage or anything as I had enough money to buy the land and build completely. But I have no money for the landscape and some medical bills that I would bear fruit. ? I can get a loan or a line of credit of my home? Which is better ?
I purchased my home in 1998 and would like to get a home equity line of credit for debt and repairs?0kalene2012-09-29 10:04:02
my credit is bad and a loan really help . I would like to pay and consolidate many others, what I can do? Why can not the equity in my house to speak for itself , I have never refinanced ?
If i have alot of equity in my current home and my credit score is low, can i sell my home and buy a cheaper 1?0vidula2012-11-05 11:15:44
i bought a big home and now i have built up some equity, i tried to get some home improvement loans and my credit score took a bad hit. I currently am stretched out too far and would like to get a cheaper home so i can breathe. If i sell my home can i buy a cheaper one. What are the chances a bank would agree.
Can't get the Equity line of credit holder to detach it from my home...so I can sell home. It did not appraise2Help needed2012-11-02 22:30:02
Listing my home for $ 312,000 , which would have paid off both the first and second . Agreed to $ 289 , 100 that will pay off one second ... $ 282,000 is $ 26,000. My income will allow me to pay the second if it is separated from the house ... I have agreed to put $ 6,000 down and after the close ... pay the surplus of almost $ 7000 .. I've been dealing with Capital One for several years and I have a loan with them and desperately need to approve the loan ... otherwise you may lose the opportunity to sell my house and may have to consider bankruptcy . I have no cash to cover the second . I own three townhouses rent paid and have moved out of my home and have a signed purchase agreement to sell $ 289,100 . What I can do ... to get the second to help a client a long time?

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