Powered by Max Banner Ads 

 Powered by Max Banner Ads 

uncleshen asked:


I am planing to buy a condo (second home or rental home) with my first home equity line of credit. The price on the condo is 150k. Is all the interest on the 150k deductible? Or is it subjected the 100k limit?

Brooklyn

Felt B. asked:


I’m looking to open a shop and my parents offered to lend me some money to help out. They are taking out a home equity loan to lend me about $35,000 to $55,000. I agreed to pay them back. Because they are taking out a loan do they have to pay any taxes? Do I have to pay taxes on this money?

I don’t have any assets so I wouldn’t be able to get a loan for the amounts of money I posted.

Hailey

brandy2002 asked:


My credit is poor but I have probably $80k in equity in my home. Will a bank refuse to approve a home equity loan because of bad credit?

Juan

smiling_chicka asked:


I am self employed and want to get qualified for home equity loan. What are the qualifications lenders look at. What do I need to show them and have?

Been trying to find out on the net, but can find any good resources. If you know any and dont mind sharing would be awesome.

Thanks!!!

Caleb

CHRISTINA N asked:


Just wondering if anyone had any information about being able to refinance a home equity loan to receive a lower rate and if so, how to go about doing that.

Avery

Karen S asked:


My sister is asking me for money to pay up her home equity line. When I asked about her mortgage payment, she said she paid it off with her home equity line. Is that possible to borrow money on your home to pay off your home?

Zachary

crisislooming asked:


If I can not pay a home equity line of credit with one bank but I continue to pay the 1st mortgage what action does the home equity line of credit holder take? Both loans are up to date, but I will be unable to pay the HELOC much longer. I do not live in the property in question. It is vacant and with a realtor but it is in Florida and the value is dropping almost daily due to the crisis in the real estate market in florida. Should I let the banks forclose?

Charles

mimi31211 asked:


The money was used to pay off credit cards. I am still paying on the home equity loan. If I do a home office deduction, which I qualify for in every way, can I use the home equity loan interest as a deductible expense?

Courtney

Richardsbabygirl asked:


Here is the problem: Ramon owns a home that was appraised for $132,600. The balance remaining on his existing mortgage is $43,260. Ramon’s credit union is willing to loan an amount up to 70% of the appraised value of a home. Based on this information, what is the maximum potential amount of credit that’s available to Ramon for a home equity loan?

Natalie