Posts Tagged ‘Credit Debt’

How do I qualify for a home equity loan line of credit?

Sunday, March 16th, 2008
home mortgage loan credit
Lord of Chaos asked:


I need money for home improvements, and I also want to get my mortgage payment lower.

I bought this home in march 07, and I have made minor improvements, but the house needs improvements.

If there are any real estate pros out there with some good practical advice please expound on this topic.

Also, I have paid off some credit card debt since I bought the house, so I think my credit rating is better.

Tiffany

Tags: , ,
Posted in Renting & Real Estate | 5 Comments »

Should I refinance Home Equity loan to consolidate credit card debt (I am buying a new house in 120 days)?

Friday, January 11th, 2008
home mortgage loan credit
Sean J asked:


Consider this:
1. I have $30k in credit card debt.
2. I have a 1st mortgage for $200k (4%) and a Home Equity line of $170k (at prime rate) with no additional credit available.
3. I am buying another house at the end of April.

Would I be better off refinancing my Home Equity and Credit Cards into a new Home Equity loan, or just stick with it as is?

I have heard that I may be able to get better rates on my loan for my new house if I refinance. Could this be true?

Thoughts? Opinions? Alternatives?

Francis

Tags: , ,
Posted in Personal Finance | 2 Comments »