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Phoenix asked:


I paid roughly $90,000 for my home. It was a TLC home and I’ve fixed it up in the past 9 years dramatically. New roof, new walls, siding, porch, heating system, well etc. My home and property was valued at $275,000 last year. Does equity play a part in this. Am I eligable for an equity loan? I don’t want to go into it without fully understanding what it is–I also don’t want to go to my banker with stupid questions….Another thing. Im looking to build my own home–hence the loan inquisition.

Kaitlyn

disappearingact asked:


I just entered a debt management program to get control over my credit card debt. I have done this seperate from my husband. Only my credit is affected. Just after I entered into the program, my husband started showing interest in a home equity loan to consolidate our debt (his credit card and vehicles) and do home improvements. In our marriage I am responsible for my own debts, but I am wondering if being in the DMP will affect the chances of us obtaining the Home eq. Loan. Serious educated replies will be very much appreciated.

Nolan

Vicky asked:


My partner and I are splitting up. We own a home together. Can she take out a home equity line of credit without my signature?

Olivia

safdman asked:


My girlfriends ex-husband tricked her into signing a revolving line of credit for the house they owned together when they were married. He also has her listed on the property deed as well as the deed of trust for the revolving line of credit. She recently signed paperwork to get her name removed from the property deed. What forms does she need to file in order to have her name removed from the home equity revolving line of credit?

Rachel

asked:


im looking to buy a home. and my brother told me that the home im looking to buy has equity and at closing i can cash out the homes equity. Im confused because i thought i built the equity in the home buy pay my mortage every month. please tell me if he is right or not . it would be nice if he is. i could use the money for my business . thank you for your time

Steven

aidal1135 asked:


I just finished building my house and I have no mortgage or anything as I had enough cash to buy the land and build outright. But, I have no money left to landscape and have some medical bills I would like to pay off. Can I get a home equity loan or line of credit on my house? Which is better?

Miguel

helenta35 asked:


We own our house fully No mortgage value approx $550k. We are thinking that we like to retire early to near the beach. Currently we found nice homes with land in that area for $175k. Is it better to get a home equity for the full cost of the Beach home plus any other small debit (approx $75k 2 cars and a timeshare) or continue to pay on the individual debits and add a Mortgage for the Beach house?
The ultimate goal would be to get settled into the 2nd home and then sell the current home pay off the balance and then put the rest in an investment with monthly dividends to use as retirement income until we reach retirement age and also maybe get a parttime job.

Cesar

asked:


I have a home equity line of credit at 9%; I see them advertised at 7.5%. Any ideas on how I might find a better rate without closing costs besides just calling around?

Devin

P-Dawg asked:


We will be remodeling/adding on to our home and want to do a cashout on the first mortgage (of around $60,000) and then do a 2nd (Equity loan) for the rest…does doing this put us at greater risk for having to pay AMT taxes and if so, in what way (which lines in the 1040 or 6251 affect this)? Is there a better approach we could take?

Nathaniel