Posts Tagged ‘prey’

Home Equity Loans FAQ

Sunday, December 27th, 2009

Can you feasibly catch a home equity loan after building your own house on 4 separate credit cards?
It seems like not a soul will finance the building of our new home. We own a great credit score (we sold our first home and broke even). They said,”we don’t DO building loans” not that it was us. So I figure…

Can you find a home equity loan if I don’t hold a mortgage?
Absolutely, if you own a home and own good credit (FICO > 620). Hello my dear do not full prey to those hoodlums at they that call them self money lender they are all scam , adjectives they want is your money and you well…

Can you folder bakruptcy on a home equity loan?
i have loan for mortgage and a home equity loan at a different company, thinking about bankrupcy on ccards and the home equity loan is that possible to wallet on it and not your house the first loan Not without them taking your house. Usually people directory bankruptcy after house being…

Can you get hold of a home equity loan while contained by a debt government program?
I just entered a debt admin program to get control over my credit card debt. I have done this seperate from my husband. Only my credit is artificial. Just after I entered into the program, my husband started showing interest in a…

Can you get hold of a loan short using home equity?
I know as a homeowner you can get a loan using your home equity, but if you do not want to do that, are there any other ways of getting a loan. Based on your credit rating / FICO win, you can get a loan basically for anything you would…

Can you help yourself to out a home equity loan on your current home to put a down salary on an investment property?
Just wondering if I put a considerable down payment on a home and built more equity over a few years if it would be possible to take a home equity loan out to put a down settlement on…

Can you lose your college grant by getting a home equity loan?
No. You can’t lose college grant by getting a home equity loan, because the essence of home equity loan is to for home improvement, not for coaching. Banks that issue home equity loan all require the applicants to tell them what the money will be used for,…

Can you lose your home equity loan on one of your houses if one of your houses go foreclosure?
I have 2 houses and I can’t keep paying one so I’m trying to bring a home equity loan for 50k on one so I can open my new business and if the other one doesn’t rent out I will own no…

Can you own $50,000 worth of credit card debt and still bring back a home equity loan?
If you are a first time borrower of a home equity loan it is imperative that you have a checklist of essential questions that you inevitability to ask each and every lender. The answers to these questions will provide a useful reference…

Can you procure a home equity loan even if you already get a second mortgage?
My credit is not good right now because I own a lot of medical bills that I have to recompense off along with some other debts. But I do own a lot of equity in my home. I want to know how can i get my…

Can you recommend a hill for my home equity loan (in the SF Bay Area)?
Has anyone had any particularly angelic experiences with Bay Area banks when getting a home equity loan? Have you tried any of the “when bank compete, you win” type of sites? They get you multiple quotes from banks doing business locally. Here are a couple of…

Can you rob out a home equity loan to repay stale your house?
Interesting question. Hypothetically, yes, you could. But I have more question than answers here. If you took out a home equity loan against your house, to pay off your current loan for your house, you hold just traded one loan for another, which…

Can you seize a home equity loan for a home that requests rehab?
The home is paid for and no liens are against it. The home would not pass inspection at this time. I inevitability 20K to make it livable again. Someone told me that the bank would lend the the money on the adjectives equity of the…

Can you still apply Home Equity Loan even thoght your contained by the process of foreclosure?
no you can singular approach a private lender Source(s): http://www.getmaxloan.com/equity-loan.ht No. Any lender worth anything will discover the foreclosure. When you are in foreclosure, the lender in the 1st lien position is going to filch your home and all your…

Can you use a co-signer to bring back a home equity loan?
I have equity in my house, and it is a substantial amount, however, next to all other bills and stuff, my credit has taken a trounced. I was wondering if anyone knows whether a co-signer would be an preference to obtain the equity to pay the other bills…

Can you use a home equity loan for something excluding a home?
I need a loan & some people have suggested I look into this because of the lower interest rates, instead of using high interest (not to mention EVIL) credit cards. But it’s not for a home & I don’t have satisfactory collateral for the amount I’d like to…

Can you use the money from your home equity loan to buy another house?
Say I remodel my house, end up with 30k surrounded by 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? I’d assume so, explicitly if any lender would touch someone…

Car Loan vs. Home Equity Loan?
I recenly got approved for a home equity loan. I am purchasing a car. I can draw from the home equity loan for 6.6% with upfront cost for the loan at $3900. (A 30 year loan which I plan to pay support MUCH sooner). I won’t pay enough interest to capture a tax…

Chapter and home equity loans?
If you have a 1st for 188k and a second for 137k, but the home is valued currently at 220k, can the 2nd be partialy changed to unsecured debt as part of the repayment plan? I doubt it but why? Pay the money you owe in recent times as it is and you will thank…

Closing cost on a home equity loan?
we are refinancing on a 120,000 loan and they are charging 8,000 in closing cost. does this sound outrageous? Yes, but everything have gone up in price because of inflation.

Closing costs on home equity loan??
yea so are there closing costs on a home equity loan? If I have crap credit is near a place that could help me. We are talking badd credit. Basically I want to pay off some debts and arrest up on some bills. Need about $10,000. There may be…

Combining 2 home equity loans – how to claim on taxes.?
I am considering combining 2 home equity loans. At the moment I can claim the interest paid on 1 of the loans as it was for home renovation, but not the other. I rent my house out, and requirement to know if I will still be able to claim…

Consolidated business debts next to home equity loan. Are those payments business expenses for taxes?
I consolidated several credit card debts with a home equity line of credit and construct payments through my business every month. By business is an S-Corporation. I use my business checking account for these payments as the initial consolidated debt was adjectives business debt. …

Continued from previous question/home equity loans?
The house I am planning on buying already has equity in it. If I plan to get hold of a home equity loan to pay off adjectives of my other bills besides the house payment, can I ask my lender who approved me for the home loan to give me a home equity loan at…

Costs/Negatives to verbs house work from my business to personal ownership to receive home equity loan?
My business owns a home; and I want to transfer that home to myslef, in my own cross. The home is paid-off. This will allow me to take out a home-equity loan. Are there costs/tax rammifications? Is near a negative I cannot currently…

Could a home equity loan be ample?
My husband and I bought our first home for $325,000. We are considering in the next 2 years doing some highest upgrades, like: 1) converting the carport to a 1 car garage 2) count a 10×25 addition on the back of the house that would house a foreign master bathroom, walk-in closet and…

Could George Bush bring out a home equity loan out on the White House?
What do you think? No. He does not actually own the home, he newly gets to live there as subdivision of the job of president.

Credit Card debt w/ glorious APR’S should i appropriate out a home equity loan?
Hey everyone, i have a question. I owe nearly 30-35k in credit cad debt with dignified APR’s(13.99%) . I want to consolidate my Credit cards and get rid of them forever ( darn things!), I live in California and own a house surrounded by Washington. I owe…

Current on first mortgage, second is home equity loan. Any difference within foreclosure if belatedly on home equity?
No. The property secures the home equity loan, and if you don’t make the payments, the lender will foreclose. Source(s): Oregon Realtor Great post! I completely read your question. Money is hard for a great deal of…

Debt consolidation loans,home equity loans?
me and my wife just bought a house 7 months ago and when we moved in we did not realize how much we needed to obtain the house adequete with furniture etc. so now we hold ran up quite a few credit cards and enjoy a 4000 furniture bill that we are barely getting by…

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Quick Personal Loans: Quick Money by Quick Personal Loans

Friday, November 20th, 2009

Problems never tell before approaching. Anytime anybody can fall prey to them and to combat with the situation, one needs money. If there is no arrangement of money then the only solution is borrowing money. Earlier nobody could expect money immediately from any bank but today Quick Personal Loans have made it possible.

These days some lenders and loan lending companies are offering Quick Personal Loans to the people who are in urgent need of money. These loans cater to the needs of the people who need money urgently and want to save themselves from showing credit score as well as from placing collateral against the loan. People can fulfill some of their small personal needs like wedding party, starting a new business, paying house rent, or for spending on education.

Lenders and loan lending companies usually give importance to the job of the borrower. If the borrower is working hand they feel pleasure to approve his Quick Personal Loan application. With the job loan lending companies also want borrower to have a saving account, where they can transfer his money. The application process for Quick Personal Loans is very easy and hassles free as lenders do not check the credit score of the borrower, it takes very less time.

Its easy to get Quick Personal Loans but it can also the reason for problem because many fake lenders and loan lending companies can make undue advantages of the need of people. People can get trapped and to avoid this borrower must always inquire well about the Quick Personal Loan and loan lending company before applying for it. Borrower must also take care that he or she is not borrowing more money because it is to be repaid. Quick Personal Loans are a solace for people in urgent need of money to get rid from their miserable life.

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Will the consumer ever win in the big American mortgage scam?

Tuesday, June 9th, 2009

The start of a new "truth blog". I thought I'd try it out here on answers. Let me know what y'all think.

Why do greedy banks and mortgage brokers always win when it comes to average Americans who only own the house they live in? Do you think you've got a deal? Think again. Here are some statistical facts.

a) CLOSING COSTS

With almost NO exception, hidden or not, closing costs are always to be paid on a mortgage. The only question is how much and it's usually a LOT and I'll tell you why. Lenders and mortgage brokers seem to be experts at "sizing up" their prey … I mean customers. If you are like 90% of clueless Americans who simply look for the lowest rate and pay any closing costs, the lender will simply charge you thousands upon thousands in closing. There is no limit on what can be charged and seems to be no limit into how the costs can be sliced, diced, and hidden within a good faith estimate. Note that when rates are "low" and there is buying frenzy … people typically
pay MORE in closing costs on top of getting shorter term more expensive loans which brings me to my next point.

b) ISN'T THAT INTEREST RATE ALWAYS AT LEAST A LITTLE HIGHER THAN MARKET NO MATTER WHAT?

Interest rates and mortgages have become nothing but a pawn in the great scam played by lenders and mortgage brokers. When they are "low", that increases the lenders business. Sure, you'll get a "lower" rate when interest rates are "low" but you can be certain that it will never be market or as low as it supposedly should be. No, the lender is armed with at least 2 good reasons to hike your rate and guess what? You can't win. First reason is your credit. You have great credit? So what? It's not perfect (hardly anyone is) so ya know what … you don't get the best rate. You have bad credit?! WOO HOO Now, you will just get the highest possible rate the lender think you could ever possibly afford – plus an extra point for good measure.

If this wasn't enough, or even if it were we mo
move on to the next and almost final blow ….

c) LENDERS REALLY DON'T WANT ANYONE TO GET A 30 YEAR FIXED MORTGAGE

In fact, they want to get you the shortest possible term so they can force you to refi or just squeeze you on an ARM. Either way, they win. Here is how it works. You go out shopping and see the various mortgage types all over. Maybe you've even researched it, but that doesn't matter if your conclusion is that you want the longest common term (30 years). Of course you want a 30 year term – IT's THE BEST DEAL FOR YOU and that's why you aren't going to get it for the best cost.

No, if the higher rate on the 30 year isn't enough to convince you to get an ARM … then the lender will hit you with additional closing costs on the fixed. Go ahead and talk to them if you'd like to be more insulted. In a great market with "low" rates (aka 3 years ago) your broker will tell you how an ARM or other variable rate product is really OK since your house is going nothing but up
Pay no mind to that higher interest rate, ridiculous closing costs, or the fact that your house is anything but guaranteed to go up in proportion to your mortgage and terms. In a "bad" market (aka now) the lender will tell you that you don't have a chance of getting anything better than ARM for less than your arm and leg. See, you lose no matter what and don't believe what your friends tell you. They are of the 90% of America who doesn't pay attention or have a clue.

d) ROLLING CLOSING COSTS IS ONE OF THE FINAL NAILS IN YOUR COFFIN FOR THE REFI

When people get desperate or even if they just start asking about closing costs on a refi, one of the first words out of broker's mouth is "hey, who cares because these costs won't come out of your pocket". No, they won't come out of your "pocket" … they'll come out of your loan and INCREASE the amount of money you already owe and will likely not have a chance of paying off unless you work like a dog for the bank for the next 40 years!
The lender knows this, and they also know something else you might not know. If they can INCREASE the amount you owe in one day with a refi. You know what this means? You've just INCREASED your loan to value ratio. That's right, you now owe more on your house than what you originally mortaged it for and you didn't even get any "cash out". You know what else? At the rate you are probably paying down on the principal you'll probably still owe all those closing costs and then some come time you need to refi or sell. NOW, it will not only come "out of your pocket", but it could be worse. Those rolled up costs will be used against you if you are trying to get a new loan with a greater than 80% LTV. Enjoy paying PMI and a few most closing costs on top of closing costs on top of interest while your broker tells you he just can't work a better deal because your LTV is too high on a house you've been already been paying on for years!

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