Home Equity Loans Info Home Equity Loans Info Including news,articles and links to useful forums and informations about Home Equity Loans. Articles
Article : Four Ways to Hedge Against Falling Home Prices
2008-03-02 22:31:00 by Simone BaribeauWednesday, February 27, 2008Home ownership has become risky business.And when business gets risky, investors hedge.Your house is no longer the bottomless piggy bank it was when home prices rose 40 percentage points above rentals in just five years. Which means -- in investor-speak -- there's huge downside potential....read all... More About: Article , Hedge , Prices
Article : Shelter from the Storm
2008-03-02 22:28:00 By Maggie Gilmour Fri Feb 15, 8:08 AM ETThe numbers are grim, even if they seem familiar by now. In 2007, lenders filed foreclosure notices on 90,782 homes in Illinois, up 25.3% from a year earlier. That tally puts the state among the top 10 nationally in foreclosures, says RealtyTrac, an online real-estate database. The figures are likely to go even higher in 2008. Subprime mortgages with adjustable rates -- given to home buyers with less than pristine credit -- will become more costly in 2008 as teaser rates expire. The Center for Responsible Lending predicts that in the next two to three years, 25,000 people in the Cook County area will lose their homes...read all... More About: Article , Storm , Shelter
Article : Want to get a home equity loan? Be extra careful
2008-03-02 22:25:00 Reported by: Joe DuceyLast Update: 2/07 5:09 pmWhether you're using it for work on the house or paying off high interest credit cards, home equity borrowing is appealing. The rates are based on the prime rate. A year ago, that was at 8.25 percent.This month it's at just 6 percent....read all... More About: Article , Home , Loan , Home Equity Loan , Extra
Mortgage | Home Loan.. : News
2008-03-02 22:15:00 Lenders Freezing Some Home Equity Loan sRay Martin: Access To Many Credit Lines Being Cut, But Homeowners Have OptionsNEW YORK, Feb. 27, 2008JPMorgan expects $450M in home equity loan losses in 1Q, and double that amount by late '08February 29, 2008JPMorgan Chase details loan standardsFebruary 27, 2008 5:09 PM ET S&P: Mortgage bond credit worsens Wed, Feb 27 2008, 19:59 GMT More About: News , Home Loan
Link to a forum : Home Equity Loan or Home Equity Line of Credit??
2008-02-12 00:51:00 Tue, Apr 17, 07 (6 posts)First post of this forum : "We are doing some major renovations in our home. We just don't know whether to apply for a home equity loan or a HELOC. The interest rates are different (HELOC is prime+.5), home equity loan is fixed. Is it better to take out the home equity loan with fixed rate and start paying on whole amount? Or apply for the HELOC, make payments on what we use but pay the higher interest rate? Also, is there a home equity loan where you just pay the interest? I might add that this loan is to pay for renovations to our new home. When we sell our old home, the loan will be paid off. Any help in deciding which is the best loan to apply for will be greatly appreciated. It is so confusing !!"see this forum at : http://ths.gardenweb.com/forums/load/fina nce/msg041507205839.html?9 More About: Credit , Home , Loan , Home Equity Loan , Link
Link to a forum : Combining first mortgage with home equity loan
2008-02-12 00:51:00 Wed, Jan 30, 08 (6 posts)First post of this forum : "We have our first mortage (original 30 yr fixed) almost paid off. We owe $35,000 and send $1,000 a month. We cut the loan down to 15 yrs. We also have a home equity loan (fixed) which has $40,000 at 7 1/4% fixed. We have about 4 yrs left on this loan. We need to do home repairs to prepare to sell the house. The repairs will cost approx $50-60,000 (guessing). My husband is in his 70's and still works. He retired from his full-time job after 30 yrs and started his own business. Our income has been cut in half. We need to sell the house we've lived in for almost 40 yrs. Would it be better to take out a new First Mortgage and pay off the other two and have one payment? We don't want to use his savings to pay for the repairs...or should we and just keep paying the mortgages. We were thinking it might be better to combine all the money into one First mortgage. Any thoughts would be appreciated. Jane"see this forum at : http://ths.ga... More About: Home , Loan , Home Equity Loan , Link
Mortgage | Home Loan.. : News
2008-02-12 00:45:00 Hard Times for Bad Credit Mortgage Second Mortgage Loan s for the Self-EmployedHome Equity Values Take the PlungeRefinancing? Figure out the Break-Even Period More About: News , Home Loan
Article : Home equity loan defaults soar
2008-02-12 00:43:00 February 4 2008As credit woes seep into prime home equity lending, a spigot of ready cash for some homeowners is turned off.By Roddy Boyd, writerNEW YORK (Fortune) -- One of the last sources of ready cash for homeowners looking to get money from their house appears to be shutting down and the results aren't likely to be pretty for the economy......read all.. More About: Article , Home , Loan , Home Equity Loan , Soar
Article : First Resource Bank Completes Profitable Year
2008-02-12 00:39:00 February 11, 2008 | msn moneyFirst Resource Bank (OTC Bulletin Board: FRSB) is pleased to announce net income of $650,973 for the year ended December 31, 2007, achieving its first profitable year since opening in May 2005........read all. More About: Article , Year , Profitable
Forum : Reverse Mortgage and Home Equity Loan
2008-01-06 14:02:00 11/29/2007First comment from this forum :"Is a home equity loan considered a part of the mortgage that must be paid?"see this forum at : https://www.newretirement.com/Answers/Thr ead/Reverse_Mortgage _and_home_Equity_Loan .aspx More About: Home , Home Equity Loan , Forum
Article : Home Equity - What a home equity lender looks for: Tips for loan
2008-01-06 13:46:00 If you apply for a home loan, the home equity lender will check your credit record to find out about the type of borrower you are. All home loan lenders want to know about how much money you owe and whether you make your payments on time. An equity lender will also want to find out whether you have a record of bankruptcy, repossession, judgments or delinquent accounts. If you have a low credit score, an equity lender may offset the risk by raising the rate of interest or reducing the loan amount. Factors like long-term job stability and a low loan-to-value ratio can compensate for bad credit issues. If you have a good credit score, home equity lenders will offer you a higher loan-to-value ratio, a better interest rate and a higher loan amount. A loan-to-value ratio expresses the amount of the first mortgage lien, as a percentage of the total appraised value of a property. Credit problems like late loan payments, caused by situations like a job layoff or illness can be explained to... More About: Tips , Article , Home , Loan , Equity
Article : What Exactly is a Homeowner's Loan?
2008-01-06 12:59:00 By Ezilon.com Article s Nov 12, 2005, 20:15 What Exactly is a Homeowner's Loan ? The term "homeowner's loan" has created a lot of buzz in the past few years, mainly because it is not a formal tag for any kind of loan. Rather, it is a general label for many types of credit extended to a homeowner whenever he or she would use his or her own house as collateral to secure the grant of a loan. There are quite a number of homeowner loans that you could avail of, so it is not correct to say that you simply want to apply for a homeowner's loan. Determining which type of homeowner's loan is most suitable for you is the first step that should be taken with this general kind of loan agreement. Home Mortgage Loans The most popular kind of homeowner's loan is a mortgage loan. This isn't really a homeowner's loan, technically speaking, as your full ownership of the house would be suspended until such time that you fully pay off the mortgage. You only have inchoate rights to t...
Forum : Home Equity Loans vs Open Line of Credit
2007-12-20 20:08:00 First comment from this forum :Nov-14-07 (3 posts)"I have about $100,000 in equity in my home. I am wanting to get advise on whether to open a line of credit or a home equity loan. Need pros and cons and any advice you can give in simple terms. Thanks!"see this forum at : http://forums.ebay.com/db2/thread.jspa?th readID=1000597173&tstart=0&mod=11 96018631921 More About: Credit , Loans , Home , Open , Forum
Article : Truth About Home Equity Loans
2007-12-14 01:24:00 If you are a home owner and you need money, you can consider home equity loans as a means of raising money. Your home will serve as collateral and you can use the funds you have invested in buying or improving your home, as equity. Your home serves as the security against which home equity loans are given, but remember that it may have to be sold to pay off the debt, if you are not able to keep up with the monthly payments. If you need a large amount of money for medical expenses, college tuition for your kids, debt consolidation, home repairs or other necessary requirements, you can consider home equity loans. You can opt for fixed rate mortgages or adjustable rate mortgages. These home loans are available either as a lump sum or as a revolving line of credit. One of the benefits of home equity loans is that the interest you pay is usually tax-deductible. The Federal Trade Commission (FTC) advises that your home may be your single most valuable asset and those who agree to take h... More About: Truth , Loans , Article , Home , Equity
Forum : Can equity line of credit be denied?
2007-12-14 01:23:00 First comment from this forum :"I have a home equity line of credit that I can use for ten years. Are there typically any provisions in these agreements that would allow the lender to deny lending on the unused credit before the ten year period ends?"see this forum at : http://forums.kiplinger.com/showthread.ph p?t=10219 More About: Credit , Forum , Line , Equity
Article : Making the Most Out of Your Home Equity Line of Credit
2007-12-03 14:18:00 By Ezilon.com Article s Nov 12, 2005, 20:06 Making the Most Out of Your Home Equity Line of Credit Not all of us are full owners of our dwelling places. With the high cost of living these days coupled with the rising financial demands necessitated by our existence in this day and age, people have deemed it more appropriate and practical to pay for a house in installments. Some even resort to home mortgage loans to borrow the payment for the house, in which case, the creditor would get to keep to the deed to the said house as security while the mortgagee would pay for what he has borrowed in accordance with a similar installment plan he has arranged with the mortgagor. Under these arrangements, what option is available for the house �owner� if he has to acquire another loan and he has no other property to use as collateral? Is he at a dead end? Should he just wait until full ownership of the house is transferred under his name before he c... More About: Home Equity Line of Credit
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Forum : Question Pay off Home Equity Line of Credit?
2007-11-17 13:52:00 First comment from this forum :"My wife and I have a home equity line of credit with a $23k balance. Rate is variable at 1.75 over prime and the monthly payment goes to *interest only*. We have the opporunity to pay most of it off (17k) with $ from a money market account (annual return of 1.5%). Investing in the stock market is not an option for us right now, and it is important for us to remain liquid just in case one of us loses our jobs in the next few years (an unfortunate reality in our neck of the woods).My theory is that if we put the 17k towards the line of credit, we'll save ourselves about $80/month in interest payments, or about $960/year, which is more than we would see in return from the money market (and also more than the tax benefit if we were to leave the balance on the LOC). The way I see it is that if we hit financial hardship, we can always borrow from the line of credit just as easily as from the money market.And lastly, we still have our first mortgage of 124k... More About: Credit , Question , Home , Forum , Home Equity Line of Credit
Forum : Home Equity Lines of Credit Ideas Sought
2007-11-10 21:17:00 First comment from this forum :"I'm interested in hearing ideas about how (financially responsible) people use their HELOCs to save or make money. One idea I've used is to significantly raise deductibles for car and homeowners insurance with the knowledge that I have low-interest cash readily available if needed. I figure I've saved about $1,000 in premiums in 2 years and haven't tapped the HELOC yet. Do others have creative ideas to share on how HELOCs can be put to use?"see this forum at : http://forums.kiplinger.com/showthread.ph p?t=2035 More About: Ideas , Credit , Home , Forum , Lines
Article : Basics Of Home Buying
2007-11-06 17:52:00 By: Pro ContentThe most important investment you will ever make is probably the purchase of a home. Finding the right home for you can be a long and arduous process, but there is no getting around that.Know Your Wants And NeedsBefore embarking on your journey of house hunting, you must know what you really want to find. Sit down with pen and paper and list all the features you care most about, such as:- Location (in a particular city, school district or neighborhood)- Size -- how many bedrooms and bathrooms- Parking -- a 1-car garage or 2?- Style -- 2-story house or ranch style home?- Heating -- central heating and/or air conditioning?Equally important, on a new sheet of paper list all the features you absolutely do not want in a house. For example:- high-traffic area.- high noise area (airport, train station or highway in close proximity)- maintenance -- major repairs neededAs you look at houses, keep both lists in mind. Your lists may change over time as you do more looking. You'... More About: Buying , Article , Home , Basics
Article : Home Equity Loan
2007-11-01 21:34:00 According to the purpose of the loan, you may either opt for a home equity loan or a home equity line of credit. A home equity loan is the amount of lump sum money you get. The interest rate on a home equity loan is more than a 1st-mortgage interest rate. You can make payments on the loan once you get the loan and once you have paid off your interest rate, it will be over once for all.Home equity loans can be availed by a home owner to borrow money by using the house as collateral. Borrowers who want bigger amount of and who feel that they are not having good credit find the option of home equity loan as an attractive one. The lenders also are happy that they can get back their loan amount by selling the property if the borrower defaults on his loan. You will also have the fear of repaying the loan amount properly when your house is at stake. Home equity loans are useful to borrowers for a variety of reasons. ... More About: Article , Loan , Home Equity Loan , Equity
News : JPMorgan home equity loan losses climb
2007-10-27 18:06:00 Wed Oct 17, 2007NEW YORK (Reuters) - JPMorgan Chase & Co Inc (JPM.N: Quote, Profile, Research) on Wednesday said it expects significantly higher losses on home equity loans amid slumping U.S. housing prices and escalating mortgage payment delinquencies.JPMorgan Chief Financial Officer Mike Cavanagh said quarterly losses on home equity loans could climb as high as $270 million. That's higher than the company's previous quarterly estimate of $150 million to $160 millionCavanagh, who made his remarks on a conference call, said the losses have forced the company to set aside more money for losses.JPMorgan has responded to higher losses by tightening underwriting standards on loans."I think it's the sixth time in the course of the recent quarters of tightening up of underwriting standards across the consumer lending books," Cavanagh said.source : http://www.reuters.com/article/fundsFunds News /idUSWEN172920071017 More About: Home , Loan , Home Equity Loan , Losses
Article : Truth About Home Equity Loans
2007-10-27 18:00:00 If you are a home owner and you need money, you can consider home equity loans as a means of raising money. Your home will serve as collateral and you can use the funds you have invested in buying or improving your home, as equity. Your home serves as the security against which home equity loans are given, but remember that it may have to be sold to pay off the debt, if you are not able to keep up with the monthly payments. If you need a large amount of money for medical expenses, college tuition for your kids, debt consolidation, home repairs or other necessary requirements, you can consider home equity loans. You can opt for fixed rate mortgages or adjustable rate mortgages. These home loans are available either as a lump sum or as a revolving line of credit. One of the benefits of home equity loans is that the interest you pay is usually tax-deductible. The Federal Trade Commission (FTC) advises that your home may be your single most valuable asset and those who agree to t... More About: Truth , Loans , Article , Home , Equity
News : Should you tap home equity?
2007-10-27 17:50:00 Home equity loans and lines of credit can be great ways to raise money for projects and financial emergencies. Here's what you need to know.November 6 2006: 5:17 PM ESTNEW YORK (CNNMoney.com) -- Times may be getting tighter, but your bills and family plans can't be put on hold. That's why it may be all the more tempting to tap into what likely is your biggest asset: the house.After all, you can get your hands on a big chunk of money to fund just about anything you need - home repair, tuition payments, a get-out-of-credit-card-debt-free card.But even with reasonably low rates and potential tax deductions, you should know what you're getting into. Determining whether a home equity loan (HEL) or home equity line of credit (HELOC) makes sense for you depends on several variables. And before deciding, be clear on how the two instruments differ from each other.Mortgage vs. credit cardA home-equity loan is essentially a second mortgage. You get a lump-sum of money and pay it back in fi... More About: News , Home , Equity |
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