HOME EQUITY LOANS BEST RESOURCES

Free Resources: confusion

• Can a mortgage on the house be payed off by home equity loan?
  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 and disadvantages of doing that? Please advice.... (confusion)
• is there a place that offers home equity loans to people that have bad credit?
  my boyfriend and i own our home with no mortgage. we have around 76, 000 of equity in our home but have bad credit. is there somewhere we can go for a loan that works with the better business bureau. i want to make sure its legit. my boyfriend and i own our home with no mortgage.... (confusion)
• Home Equity Line of credit Or Second Mortgage Loan which is better ?
  I am confuse in home equity loans with second mortgages. Second mortgages and home equity loans can be used for the purpose of cashing out equity in home I am confuse in home equity loans with second mortgages. Second mortgages and home equity loans can be used for the purpose of cashing out equity in home. This... (confusion)
• At age 57 should I get a new mortgage or get a home equity loan?
  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 off. There is no mortgage on the... (confusion)
• Is it a refinance or home equity loan?
  I bought a house 6 months ago before I sold my condo. I borrowed the money from my brother for the new home until the condo sold. I have a written contract and have been paying interest. He is starting to get nervous, so I would like to take out a mortgage for the home to pay... (confusion)
• Can I transfer an existing home equity loan, attached to my current residence to a new residence?
  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. Do lenders transfer 2nd mortgages to a new... (confusion)
• Is it better to get a home loan thru home equity line loan?
  I am thinking of refinancing and Chase Bank is ready to give a 10 yr 170k home equity loan. Is this a better than my existing home mortgage loan. Is there anyone who has suggestions for this. I am thinking of refinancing and Chase Bank is ready to give a 10 yr 170k home equity loan. Is... (confusion)
• Smartest way to pay debt refinance, home equity loan or a payment plan?
  I have debt totaling 30, 000. I own a home in which I have over 150k equity in. I want to pay this debt once and for all. What would be the smartest way to do this? Should I refinance, take a home equity loan or set up a payment plan? My mortgage rate is 5. 375... (confusion)
• What is the difference between a mortgage and a home equity loan?
  I own a home that is paid off but would like to take out a loan to fund some home improvements as well as help my parents pay off their home equity loan. Given this scenario can I take out a mortgage since mortgage rates are lower or am I limited to a home equity loan. I... (confusion)
• Should I open up a home equity loan or transfer to new credit card?
  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 I have 5k on my current credit card that has high interest, I am asking should I look at opening a home equity... (confusion)
• Home equity loans what happens when my mom dies?
  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 loan so the house could stay in... (confusion)
• What is the difference between a 1st mortgage, 2nd mortgage, and home equity loan?
  I am searching for financing to make home improvement repairs, I submitted a request for a home equity loan through lending tree. The lenders throwing out terms such as 1st mortgage, 2nd mortgage, and home equity loan. I am searching for financing to make home improvement repairs, I submitted a request for a home equity loan through... (confusion)
• Can I Transfer An Existing Home Equity Loan, Attached To My Current Residence To A New Residence?
  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. Do lenders transfer 2nd mortgages to a new... (confusion)
• Can I get a home equity loan with a first mortgage?
  I am buying my first home with an FHA loan. The mortgage company I am using doesn't do a 203K loan and I would like to use money to improve the house. I was approved for 40, 000 more than purchase price and only want 20K max. My credit is not perfect. I am trying to find... (confusion)
• Is taking a home equity loan to buy new vehicle and pay bills the smart way to go?
  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 want to buy new vehicle but still owe on present one... (confusion)
• I need to get money out of my home - refinance or home equity loan?
  I need 20k by next month for medical expenses. My house is worth about 235k and my loan on it is 125k. My interest rate is 5. 875. Should I refinance at 5 and get 20k out, get a home equity loan or home equity line of credit? I plan on staying in this home for about... (confusion)
• Public Records Reading - Mortgages, Do home equity loans show or just reverse and second mortgages?
  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? I read public records when doing RE research so I am... (confusion)
• If I purchase a home in all cash would I get a mortgage or home equity loan?
  I am planning on purchasing an investment property with 100 cash. I can purchase the property at 60 of market value. I then plan on pulling a loan out for 60 of the market value. Would it be considered a mortgage or a home equity loan? A mortgage currently is about 300 basis points lower than the... (confusion)
• What happens if I take out a home equity loan with no plans of paying my mortgage or home equity loan back?
  This way I will eliminate the 120, 000 I owe on my 1st mortgage and grab 100, 000 cash off the equity loc. They can have my house and ruin my credit for 220, 000. This cannot be legal is it? I really would not do this but my wife may. This way I will eliminate the... (confusion)
• How tax deductible are charitable donations and home equity loans?
  When they say donations and home equity loans are tax deductible, what does this mean? Does a 1000 donation mean 1000 less federal income tax? Does 1000 paid in interest on a home equity loan mean 1000 less federal income tax? When they say donations and home equity loans are tax deductible, what does this mean? Does... (confusion)
• More than one home equity loans at a time?
  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 to do with the money. So I... (confusion)