Archive for August, 2008
Sunday, August 3rd, 2008
Andrew Obidowsk asked: If you are a homeowner and are in need of some extra cash, you may want to consider getting a home equity loan. Equity is the amount of value you have paid off on your property. For instance, if your home mortgage is worth $150,000 and you ...
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Saturday, August 2nd, 2008
Somerset Mortgage Lenders asked: What is Home Equity?Your home equity is the appraised value remaining in your home after you subtract the remaining balance you owe on your existing home mortgage(s). It can be thought of as the part of the home you actually own instead of the bank: the ...
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Friday, August 1st, 2008
VR4Jen asked: Say I remodel my house, end up with 30k in equity, and take out a home equity loan for that amount. Can I turn around and use that 30k as a down payment on another property?
Edit: The new property would be used to renovate/flip and sell.Instant Hot Water ...
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