Can I Transfer An Existing Home Equity Loan, Attached To My Current Residence To A New Residence?
- No, in general you will have to pay off all encumbrances on the property in order to obtain clear le so you can sell the property, You will either need to come up with the difference in order to sell or try and apply for a short sale
- No. The loan is secured by a lien on the current house
- No - never. Keep in mind that they had an appraisal done on your existing home - if you buy another home they have no way to know if they would be secured to the same extent that they are now. The HELOC is tied to the home & they will never accept different collateral
Knowledge Base
if you can afford to carry 2 mortgages, go for it. what you want is a bridge loan. ask your bank. i would definately not want to do that. just extend your closing when you do sell it so you have time to find a house. if your house did (home equity loan rates)
i currently owe 60000. 00 on my original mortgage loan and 25000. 00 on my home equity loan the 2 are from different financial ins utions. my home was used of course as collateral for the equity loan, what happens to my house if im current on the mortgage but (home equity loans new)
i read public records when doing re research so i am wondering. i guess that only second and reverse mortgages show. and why would someone choose a second mortgage vs home equity loan? are we saying that a home equity loan automatically shows as a lien?. all mortgages and liens (home equity mortgage loan)
Knowledge Base: Home Equity Loans
if you can afford to carry 2 mortgages, go for it. what you want is a bridge loan. ask your bank. i would definately not want to do that. just extend your closing when you do sell it so you have time to find a house. if your house did (low rate home equity loan)
i am currently under short sale proceedings in ca. my first has agreed to the terms but my second, which is a non - purchase money loan, is requiring me to sign a promissory note at a reduced balance. the second has agreed to reduce my balance by 65% and (home equity loans new)
is it possible to pay off the mortgage with an home equity loan if the apr is less than what i am paying right now? i understand that if i refinance, there are closing costs and for home equity loan, there are none, am i correct? what are the advantages (home equity loans new)
i have $5k on my current credit card that has high interest, i am asking should i look at opening a home equity loan or transferring to another credit card with lower interest rates. if you can get a lower rate, go with another card - the companies are being (low rate home equity loan)
i took a home equity loan out a while ago and in this market, my equity has dropped considerably. if i were to sell my home, i could pay off my 1st mortgage, but i'd still have a balance of about $30, 000 - $50, 000 on the 2nd mortgage. (home equity loan rates)
Knowledge Base: Home Equity Loans New
my mother who is 85 got a equity loan on her home rather than a reverse mortage loan. i was told today that when she p es the total loan becomes due and payable? basicly that we can not just keep making the payments. is that true? she did this (home equity loans new)
want to buy new vehicle but still owe on present one plus have other loans. my house is paid for would it be a wise choce to do a home equity loan rather than take an nother car loan. i know nothen about homae equity loans. nope because you might (home equity loans new)
i want to know if i can get more than one home equity loans at a time for a single house from different banks. because i have applied for a home equity loan from a bank, but it seems to be not enough for me to do what i want (home equity loans new)
i have $5k on my current credit card that has high interest, i am asking should i look at opening a home equity loan or transferring to another credit card with lower interest rates. if you can get a lower rate, go with another card - the companies are being (home equity loans new)
my parents who are both deceased gave me the 1st option to purchase their home. i want to buy my sisters out and i want to know if it is better to get a new mortgage or can i borrow money from the equity in the house and pay them (home equity loans new)
