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djchuang asked:


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?

Elizabeth

shygirl asked:


My sister in law just filed bankruptcy and decided to let the bank take her home so she can start over. But now she and her husband found a house for 60k and is asking her brother (my husband) if she can borrow money from our equity that we have on our house which is basically all of the equity that we have, so she can purchase this home. My husband is thinking of lending it to her but I think it is a bad idea. What should we do?

Caden

D G asked:


We will be listed as “entering foreclosure” until September, but have already made 5 consecutive payments into the forebearance plan, including a large down payment. However, in order to get our finances in order and pay education costs, we need to take out a home equity loan. Will lenders approve the loan (if we have one great credit score, one bad, and a good income) in our current state? Or would it be rejected outright?

Arianna

gradjimbo asked:


Does anyone know the typical point for a home equity line of credit ? By point, I mean the up-front fee that is proportional to the credit limit. So if the term asks for 5 points (5%) and the line of credit is $100,000, there is a $5,000 fee. Do you think that the numbers I’ve just mentioned are a pretty good deal, assuming that the interest rate is good? Thank you.

Evan

erieanna c asked:


My mother signed a home equity loan with my grandfather who has just passed, and I am trying to help her pay the bills but the payment on the house is too high. If she refinances could her payment go down? Are there any other options, or any kind of loans or help from anywhere? I am totally clueless this was very unexpected.

Rachel

asked:


How long after purchasing a home do you have to wait to take out a home equity loan? Do you have to re-close? Are there loan you can take out beside equity if you own a home?

Stephanie

27amDotCom asked:


Any advice on what to look for when shopping around for home equity loans?

Are there referral commissions?

I have a couple of individuals looking for a home equity loan … I told them I’d look into it for them. I’d like to find a quality vendor, but if referrals commissions are paid out, I’d like to negotiate for that too.

How do I figure out what is a “great deal”?

PS. I’ll happily take general replies but this would be specific to Calgary, Alberta, Canada.

Anna

BC asked:


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’m not interested in HELOC’s.

Alyssa

sevan s asked:


My friend has a home equity line of credit and plans to foreclose on his home. Will he be responsible to pay for his line of credit afterwards or will that be considered a part of the foreclosure?

Jeremy