Archive for September, 2008
Saturday, September 13th, 2008
Suzi S asked: I have a home equity loan for $100,000 locked at 7.25%. I decided to unlock it for $200 and relock it a a lower rate, only to discover the new rate was 7.35%. If I leave it unlocked the current rate is 5.49% (prime minus ...
Posted in mortgage | 4 Comments »
Friday, September 12th, 2008
Blue Sky Dreamer asked: I am looking into getting a home equity loan to consolidate some debt. I just read that banks will use the lesser of the purchase price or the appraised value in determining how much to lend you. Is this right, or do they really use the ...
Posted in mortgage | 3 Comments »
Wednesday, September 10th, 2008
Dina Wilson asked: Suppose you have obtained a first mortgage worth ₤150,000 on your property. You have paid ₤70,000 in last 5 years. Your home value has also increased to ₤300,000 in these 5 years. So your home equity is ₤1, 50,000 (₤300,000 - ₤70,000). Now if you take a ...
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Monday, September 8th, 2008
Lojo asked: How does a home equity loan work?Joanne
Posted in mortgage | 3 Comments »
Friday, September 5th, 2008
NWFC asked: 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 ...
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Tuesday, September 2nd, 2008
Carrie Reeder asked: Getting approved for a personal loan with recent or past credit problems may pose a problem. Because of credit blemishes, most lenders are hesitant to offer money to those with a low credit rating. Thus, acquiring funds for large expenses or emergencies is impossible. On the other ...
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