Get Your Copy of "Should I Short Sale My Home" for $8.00 for a limited time
Powered by MaxBlogPress 

Posts Tagged ‘home equity loan’


 Powered by Max Banner Ads 

Your Credit and the Home Equity Line of Credit

Tuesday, May 11th, 2010


Thank you for revisiting you can still subscribe to my RSS feed. As Always Thank You for visiting!


 Powered by Max Banner Ads 
PASADENA, CA - JULY 14:  Some people are allow...

If you are like most homeowners you have considered using a home equity line of credit to get out of debt with high interest rate credit cards. There are at rate credit cards. There are at least two schools of thought to consider if you want to get a home equity loan for such a thing.

One thing is that using your home as collateral to get out of debt is risky. Why? If you fail to make the home equity payments you can lose your home. Still yet, the days of your home equity high are gone. Remember, equity is the difference between how much you owe on the mortgage and how much the home is worth. For example, let’s say your home is worth $57,000. In today’s market, it may be worth $65,000. The difference, equity, is $8,000. If you decide to take out this loan remember you now are adding another bill to your already overloaded expenses, so make sure you can handle this before doing it so you will not be facing foreclosure, as a result.

Another option would be to cut up the high interest rate credit card and pay more than the minimum until you get the card paid off. Do not close the account when you are paying it down because that can affect your credit negatively.

Originally posted 2010-01-11 05:00:53. Republished by Blog Post Promoter


Taylor-Brown's Related Post s' Related Posts
  • A Low FICO Score Is a Challenge Not a Defeat Credit is essential to acquiring a home, car, etc. especially if you do not have cash to purchase the item you desire or need.  It is equally as important to understand how credit can influence your ability to purchase.    Let's examine. The bank institutions Advantage Mortgage Lending use FICO score to determine......
  • Home Insurance - Latest News The latest news in home insurance from around the blogosphere: Why Home Insurance is Necessary for People in Canada | Business ... Remember the Hurricane Katrina? Or even the Tsunami in Asia? Apart from the loss of life, the property damage was stupendous. Thousands had. Compare Home Insurance Rates and......
  • How to Raise Your Odds of Getting Approved for a Mortgage Image via Wikipedia Your credit score is the catalyst to you receiving or not receiving a mortgage.  Advantage Mortgage has taken some of the guess work out of obtaining a mortgage.  The company has included an easy to understand tutorial on mortgages and common terms to help the buyer......
  • Consider Your Federal Income Taxes When Buying a Home Can you believe that buying a home is a big financial decision?  Can you guess why?  Did you know that the purchase of a home can affect your federal income taxes?  How you ask?  Let's examine. In recent years, many mortgage brokers have convinced buyers to commit to large loans......
  • What is a HELOC? Before we discover why the home equity loan must be an adjusted rate loan and discover more about how the money merge account can make us financial free. I felt it was necessary to address several responses and comments about the money merge account. There has been a lot of......
Related Websites

 Powered by Max Banner Ads 

© 2008-2010 Taylor-Brown Real Estate Talks All Rights Reserved -- Copyright notice by Blog Copyright