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Home Equity Loans
Asked by A.R. from Philadelphia
on January 3, 2009
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Hello, I was wondering if anyone knows about home equity loans for not so great credit. We own our home free and clear. We want to get an equity loan to get some repa...
Answers
- I agree with others about going to local bank. You want someone you can talk to face-to-face. I will warn you that the loan process is much more difficult these days...
- If I were you I would try this: http://www.fatwallet.com/forums/finance/ The people on this forum are VERY knowledgeable and always answer all my questions. They h...
- Hi A., Go to your local bank. Talk to the financial consultant. See what they have to offer. Good luck. All the Best. D.
Info Requested on Home Equity Loans
Asked by L.S. from Dallas
on March 26, 2007
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Has anyone had experience with home equity loans? I would like to get some information about how much the fees are to do a home equity loan. I was thinking about tak...
Answers
- Definitely look into a cash-back refinance which can lower your current mortgage payment and give you the money you desire for home repairs. HELOC's are tricky and ca...
- Hi Paula, I am a bank manager for Chase Bank...a Home Equity is a great way to improve your home, pay off credit cards etc. Make sure you do not pay any fees and r...
- Go to your bank. I bank with Compass Bank and they gave me a home equity line of credit. That way you only use what you need when you need it and it works like a credi...
Home Equity Loans-need Advice
Asked by S.A. from Chicago
on September 22, 2011
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Hello!
I'm hoping some of you financial gurus can give me some advice. My husband and I are considering taking out a home equity loan. The reason for this is to p...
Answers
- First, don't be so hard on Hannah. You asked for her opinion and she was kind enough to give it to you. No charge. Second, you say your lifestyle is no where near...
- I've seen people do this very thing, and just end up with more debt. So if you decide to do it, you've got to cut the cards up. Nonetheless, it might be a good sol...
- I've done this. Was able to get a loan in 2005 with a fixed rate. Our options were a 15y loan for $900 a month, 20y loan for $700 a month or 30y loan for $450 a month....
Emergency Fund / Home Equity
Asked by S.G. from Washington DC
on October 24, 2011
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Just wondering if it's my husband that thinks we need to have all this extra cash or if everyone else is like this as well. We have 6 month emergency fund and savings ...
Answers
- Trust me, I'd love nothing better but to stay at home. My husband would love for me to stay at home as well. However, I'm wondering how long you'd be out of work. G...
- One simple question to ask....are you purchasing the home on both your incomes or his income alone? In other words if he makes 100,000 a year the mortgage should be no...
- Hi, S.: First things First. I see a power struggle going on between you two. Sit down and discuss the issues and make a decision that both of you can agree o...
Help with Credit Card Debt
Asked by V.G. from Tampa
on June 25, 2009
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I am really needing help with our financials right now and was wondering if it is better to go with a debt colsolidation company or a home equity line of credit - I do...
Answers
- Typically if you use a debt consolidation company they are able to lower the total amount you owe before you even make your first payment. Go to goodsenseministry.com ...
- Hi V. Last year I consolidated my $10,000 debt via a really awesome family credit union. Doing so lowered my total interest rate immensely, and my monthly payment...
- Good Morning V.... I wanted to let you know I just started a program with Family Life Resources.. They are a Christian non-profit agency that helps determine whats ...
Best Place to Get Car Loan?
Asked by A.D. from Cincinnati
on June 10, 2010
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Any advice re: where to get a loan for a new (well, new to us!) car? I've heard it's better to have financing lined up before you go car shopping, but where should I ...
Answers
- We used a credit union and have had a good experience with that. Goodluck!
- I would say a credit union too - they usually have good rates, and in my experience, they won't let you borrow more than you can handle. Like others said, you will pr...
- I just bought a new Ford and I went online and applied for the loan at Ford Credit. I was approved and given an amount and all I had to do was go to the dealer and te...
Electronic Mortgage Payments
Asked by B.H. from Dallas
on September 8, 2007
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Our new mortgage company has just sent us an offer to make mortgage payments twice a month, and they say we can increase our equity and save money in interest. The id...
Answers
- If you are planning on staying in your home at least 5 more years, it's worth it. If not, don't bother. However, what they are offering will cost you up front as the...
- This is well worth the fees. The equity builds quickly, helps pay your home off earlier and the program we are on will transfer to any home, free for life. We have b...
- YES! And you can do this yourself. Don't get suckered into paying a fee for it. Plain old DISCIPLINE & adjusting your monthly payment a little each month & paying- eve...
In Need of Contractor Referral
Asked by J. from Chicago
on September 5, 2008
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Hello Everyone!
In preparation for #2, my husband and I are looking for quality referrals for contractors that do work in the Skokie area. I am particularly intere...
Answers
- I am an Angie's list member also, highly recommend it. I got my contractor through them - Neighborhood Remodelers - ###-###-####. They were great and remodeled the 2nd...
- hi. don't know much about the loan part of your question but i do have a very reliable, competent contractor who i'm sure would do work in skokie. he redid two of ou...
- J.-I need to keep John's phone number in my back pocket lately. He is great!! I met him thru another mamasource mom. He has done wonderful work- ###-###-####--he...
Job Loss
Asked by M.M. from New York
on July 5, 2011
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My husband just lost his job. The company he was working for was run by a trust in England with an office in the US. Now the company went out of business and they wa...
Answers
- Wow I am so sorry to hear this-and supposedly the economy was picking up right!!?? They say unemployment has dropped-maybe they aren't considering that it dropped beca...
- As far as the person who wrote that Texas isn't having a recession, I'm not sure about that. Texas is hurting a bunch, also. Thousands of teachers across the state ...
- I'm sorry your husband lost his job. There are jobs in Connecticut...have him apply for Unemployment Benefits and search for a job. I would NOT cash in my retiremen...
Refinancing Mortgage
Asked by J.V. from Chicago
on February 29, 2012
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Hubby and I are on an ARM that will reset this summer. When it does, it most likely will go down a percent. For the past 2 years, I've tried to convince hubby that we ...
Answers
- They won't let any type of refi go through WITHOUT an appraisal first. I know this because our refi didn't go through for this very reason, not enough equity and the ...
- While it would stink to pay PMI, it might still be totally worth it! What you really need to do is get all of your information together and just make that appointment...
- It doesn't help to worry, just go and talk to a broker. I know it's making you nervous, but rates are at historic lows and it may be worth it even if you do have to p...
