Home Equity Loans Arizona

if i get home loan secured in this taxable year, can i deduct interest payments made before loan secured?

Editor — Sat, 04 Sep 2010 06:47:32 +0000

my parents helped my husband and i purchase a home this year. we have a loan agreement with them and have been making payments of principal and interest since june of this year. the loan is not secured on the home. the home mortgage interest deduction for federal personal income taxes requires that the loan be secured on the property. if i get the loan secured before the end of this taxable year, can i deduct all interest payment made this year even if they were made before the home was secured?

How soon can you purchase a home after filing Bankruptcy?

Editor — Sat, 04 Sep 2010 06:47:31 +0000

And do anybody know of any companys that do these kinds of home loans

Pre-Approval Home Loans?

Editor — Fri, 03 Sep 2010 22:36:40 +0000

my husband found a home and are looking to get pre-approved. It is asking how much do i want. The home costs $109,900 with $21,980 down. How much do I ask for. I am going with ING Direct.

Need help refinancing a home loan?

Editor — Fri, 03 Sep 2010 20:47:28 +0000

I bought my home last year (August) and at the last minute they informed me I’d be paying PMI insurance. ($80month)
I’ve gotten a better paying job since then and am going to pay down the principal of my home. (Only by a couple thousand dollars in the coming months).
I’d like to refinance my home to get rid of PMI and pay down my principal to refinance and get cheaper monthly payments.
Can anyone recommend a good re-finance company? Is it a good idea to refinance? Is the fact I’ve only had the loan a year a problem? (I’ve made all my payments on time).
Please help me figure out whether or not it’s a good idea for me to refinance. My current interest rate is 6.25%.

Thanks!!

Can I still do a no doc/stated refi?

Editor — Fri, 03 Sep 2010 08:48:55 +0000

I bought my home 2 years ago and went with a no doc/stated loan. I have 2 homes, never been late on either one (not a single day for 5 years), credit score over 750, assets of about 25k in the bank, BUT I would like to refinance using a no doc type of loan. Is this still possible? I know freddie mac has strict rules against no doc loans, but what I’m looking for is a refi. Hopefully there is more leniency on that. I also heard that theres a couple new programs that might be able to help people in my situation. Answers from mortgage brokers/loan officers encouraged. I am in Illinois, if that matters. I would like real answers, not just “hey I can help you, give me a call at 555-5555″. Thank you

What is the best way to get a home loan when you are getting divorced?

Editor — Thu, 02 Sep 2010 20:47:38 +0000

Soon-to-be divorced mom of two would like financial advice on the best way to get a home loan. Never been a part of the financial end of matters and serious advice would be appreciated.

comparitive home loan rates in india?

Editor — Thu, 02 Sep 2010 17:47:48 +0000

What type of easement is needed for a mortgage company to let me borrow a home building loan?

Editor — Thu, 02 Sep 2010 14:53:04 +0000

I recently bought about 8 acres and to get to my 8 acres I must go through a gate that passes through someone elses land. The other person has 20 acres and to the south side of their land is a road that stretches the entire length from the front gate to my gate. On my warranty deed, there is no mention of this road being or having an easment. Instead there is a grandfather clause on that road and people with land behind mine use the road too. It passes through my land as well. My question is, if I wanted to get a mortgage loan to build a house, what type of easement will I have to get in order for the loan company to lend it to me. I’ve been told that there needs to be an easement in order to borrow money. Where can I get this easement from and do I have to involve the people infront of me in any way? Also, if I wanted to put an automatic gate in the very first entrance where the road begins, who do I have to talk to. Im willing to pay for it, can I just put it up?
There is already electricity there where my land is at because I have a security light I am currently paying for. Does this mean there could be an easement already, just not legalized on documents? What is a center line or center lying easement. I’ve been told that a surveyor can just shoot a straight line from the highway to my gate entrance and document it and this will be enough to get a loan from a mortgage company. How true is this?

Is it better to refinance or get a home equity loan? We have owned our home for 2 years.?

Editor — Thu, 02 Sep 2010 12:50:47 +0000

Due to family health issues my husband and I have missed a bit of work over the past 9 months. Because of this a few of our credit card payments were missed and we have fallen quite behind. We are now both back to work full time and are making arrangements with our creditors to try to lower our monthly payments. I have not contacted our mortgage company yet to see what they offer because I am not savvy enought to know the difference. In this situation, which would be better?

Personal Loans / Home Equity Loans?

Editor — Thu, 02 Sep 2010 02:50:37 +0000

I got 4 credit cards from 4 different banks. Can I use the personal loan or home equity loan to pay all my balances from these 4 credit cards?

For example, I got a total of $4000 debt, each credit card got $1000 balance, can I pay them all using my Personal loan from Chase?

Because I was thinking like, I can only use the Loan “from Chase” to pay for my debts on Chase.
Is there a difference between Personal and Home Equity Loans?

How easy is it to get a home equity loan? I would like to use that to pay off cc debt.?

Editor — Thu, 02 Sep 2010 02:50:35 +0000

Im not quite sure if I should be going to a mortgage broker to apply for one, or just go to each bank individually? Also, are there any out there that do not have a repayment penalty? I am also assuming that once the property sells the loan needs to be automatically repaid.

I would also like to know how this will affect my credit score. Is it better to have an X amount on credit cards, or have that same amount on an equity loan.
Thanks
I already know the whole “you shouldint have gotten yourself into debt” speech. My husband and I paid for our own wedding, therefore the debt.

who has the best deal on a home equity line of credit?

Editor — Wed, 01 Sep 2010 18:38:15 +0000

If my parents want me to refinance their home loan ($150K remaining). What is the income criteria to do so?

Editor — Wed, 01 Sep 2010 16:47:19 +0000

My salary is approx. $48K annually and my monthly bills are $1500. I have good credit but I don’t want to go through the hassle if I don’t pre-qualify for the loan. Thank you for your input!
To clarify, my monthly debt for credit cards and car payment is $800 and approx. annual income is $48,000.

Do you have any experience, good or bad, with Quicken Loans for home mortgage?

Editor — Wed, 01 Sep 2010 12:51:49 +0000

Please tell me your experiences in dealing with them…Getting ready to close soon & want your opinions.

I am trying to find a place to loan me 19,500 on a small percentage loan for a manufactured home .?

Editor — Wed, 01 Sep 2010 12:51:48 +0000

I am trying to find a place to loan me 19,500 on a small percentage loan for a manufactured home .

I am looking for a singlewide home purchase loan for 13,000 I have poor credit and I want to put it lot rent?

Editor — Wed, 01 Sep 2010 12:51:46 +0000

I need someone to approve me because every else can not help me

How long after buying a home can you refinance?

Editor — Wed, 01 Sep 2010 12:51:45 +0000

My husband I just bought home in July 2008 for 87k. Our interest rate is at 6.25. With the mortgage rates falling because of the economy, we would like to refinance to pay off some bills and to get a lower rate. We are first time home buyers and have a fixed 30 year FHA loan. Do we have to wait one whole year to finance or can we do it now?

Will I be able to get a new home loan for another house with bad credit if I walk away from my house?

Editor — Wed, 01 Sep 2010 11:51:12 +0000

My house was on the market twice and did not sale and there are alot of houses for sale in my area.
Looking for answers or advice, not two bit judgements…..Thank you!

Should I pay off my Home Equity Line of Credit, or…?

Editor — Wed, 01 Sep 2010 11:51:11 +0000

I have saved $20k over the last two years. I don’t know if I should pay off my HELOC with that money or keep it in high yield savings account and pay my HELOC off slowly. What it the best financial move in 2007? I plan on selling my home within 3 to 5 years, or when the housing market gets better.

if i have bad credit is it hard to gain an equity loan if i own my home?

Editor — Wed, 01 Sep 2010 08:47:27 +0000

home equity loan vs. equity line of credit?

Editor — Tue, 31 Aug 2010 23:51:01 +0000

Why pay closing costs on a home equity loan if a home equity line can be obtained at a comparable fixed rate and tax deductable?
Am I missing something here?

how to calculate your monthly morgage payments with the rate your given?

Editor — Tue, 31 Aug 2010 14:51:24 +0000

I know I should speak to my loan office about this but my appointment isn’t until tomorrow. So basically anyone who know about home loans I would appreciate your info. I am looking at a house which is $170,000 with the rate of 4.7. I know there is also tax and insurance, but how do you calculate it using onlt the price and rate?
Sorry…30 year

Do you feel like McBama sold America down the river last night?

Editor — Tue, 31 Aug 2010 10:58:41 +0000

Yes, BOTH senators voted YES to pass the bills that is lacking (abbreviated):

1. THE PLAN MISSES THE KEY ISSUE – WE SIMPLY GIVE MONEY BACK TO WALL STREET AND CROSS OUR FINGERS THAT SUCH FIRMS WILL RETURN LIQUIDITY TO MARKETS. Financial institutions who receive government support are under no obligation whatsoever to use such funds to provide liquidity to the financial markets. Thus this aid package fundamentally misses the real problem and may not provide liquidity of trading we need. Instead, such financial institutions could simply distribute the cash to shareholders and partners, and provide no further help to the economy.

2. TAX LOSS CARRYFORWARDS WILL MEAN THEY DO NOT ACTUALLY PAY TAXES. Importantly, any tax levy in 5 years on troubled financial institutions will be avoided by such bailed out firms. Financial institutions holding troubled assets will incur TAX LOSSES today from the sale of such assets to government and thus will be exempt from paying taxes for very long periods of time as a result of tax loss carryforward rules (the amount of such tax losses will depend upon how they originally accounted for the assets in their financial statements – some firms may record massive tax write downs). In fact in 5 years they may still have sufficient tax shelter from the sale of these troubled assets that they will not be subject to the special tax on financial institutions. Ironically, the financial institutions that avoided these troubled assets and thus did not incur tax losses will be the ones who carry the burden of the new tax since they will not have tax shield available.

3. The total exposure of government is possibly $3.131-TRILLION – well in excess of $700 bn since this is simply an upper ceiling on the maximum outstanding at any one time (per notes on page 40 of the Act). The plan is designed to absorb substantially more troubled assets – as government sells such assets the proceeds from sale can then be used by the Secretary to buy more troubled assets. This establishes a “revolving” loan facility which can be used over and over again to buy troubled assets and then sell such assets. The true exposure of government debt is illustrated by the requested increase in the statutory limits of total debt allowed. This new bill requests to increase the allowed debt by $3.131-trillion (from $8.184-trillion to $11.315-trillion, per pp. 68, line 8). See http://www4.law.cornell.edu/uscode/html/… for current wording and limit on government debt.

4. Credit card loans and car loans that are secured by a home loan (very common in USA) are included in the bail out package. See pp. 14, line 18. Any type of purchase on a credit line secured by a home can be acquired or guaranteed by the government. Since such loans are very common this means virtually any type of debt can be taken over by the Secretary. This package goes well beyond subprime mortgage loans.

5. There is practically no cap on what a financial institution can sell to the government. The cap has been set at $100,000,000 (pp 38, line 24). Thus a small number of big-time offenders can dump their bad debts onto government. If it is only a small number of firms that hold large amounts of such paper then the government should consider allowing them to fail. Government intervention is appropriate to stop systematic broadly-based risk. Not a handful of firms. The private sector could easily buy up a handful of firms with such troubled assets (e.g. JP Morgan easily absorbed WaMu and other institutions like Barclays are seeking opportunistic acquisitions)

6. There is no clarity on the type of deals the Secretary can structure. He has a free hand to deem what is appropriate – even if such deals are not at fair market value. pp 35 line 10 outlines the mechanism for how government takes an equity or debt position in the selling financial institution. Importantly, there is no mention or requirement for the Secretary to use fair market value in determining the value of debt bought by the government. As mentioned earlier the selling financial institutions can flip debt acquired from other struggling financial institutions to the government. There is no consent requirement for the Secretary from any oversight committee. Suggested improvements:
(a) Have Secretary establish fair market value for consideration paid when buying, insuring or guaranteeing troubled assets.
(b) Have Selling/insured financial institution indemnify government against any and all losses resulting from the troubled assets bought, insured or guaranteed. Thus the downside risk of loss will be mitigated.
(c) Have government receive equity participation IN ADDITION to the indemnification.
(d) Place limitations on distributions/dividends to shareholders until the loans are repaid. There is no limitation on dividends and other distributions to partners/shareholders from the financial institutions. Repayment of government obl
Sugar: how so?

Can someone add names to a home title without it causing an existing home equity loan to be called due?

Editor — Tue, 31 Aug 2010 06:36:04 +0000

My sister has a house with her name only on the title and a home
equity loan with a line of credit. Now, she wants to add myself
and my brother to the title only and it will be a Joint Tenancy
Title. My brother feels that if I am listed on the title that it
will cause the loan to be called due because I am unemployed? Is
that right? M.G.

How can we calculate sweat equity for fixing our own home?

Editor — Mon, 30 Aug 2010 17:36:11 +0000

My parents are buying a house for my husband (who is a contractor) and I to fix up as an investment and double as a home for us – They want to have a calculated dollar amount for all the labor we put into the house – they will pay for supplies – my husband will do the work – what would be the best way to come up with number?

How do I get equity out of my home when credit is bad?

Editor — Mon, 30 Aug 2010 14:53:59 +0000

I am in middle of divorce house is worth 500,000.00 we owe 290,000.00
but my credit is horrible like 580 I only have around 13000.00 in debt but I cant pay off anything I work at same job for 7 yrs I live in CA. I just want me to take equity of around 50-60K then I will leave she can have house whatever anyone know what I can do home is in both our names only have 1 mortgage its in her name help???

Do I need to have owned my home for a year or more before being able to take out a home equity loan?

Editor — Mon, 30 Aug 2010 04:47:36 +0000

I’ve only owned my current home for about 9 months now, but have to relocate immediately and I want to buy a house in the place im moving. I have a lease set for my current house for when I leave that covers my payments on it and don’t have any plans of selling it. Do I have to wait until I’ve had the house in possession for 1 full year before I can take out a home equity loan? What are my options if not? I’m trying to buy my 2nd home with no cash on hand or down payment and a marginal credit score. I am employed at a job I’ve worked 10+ years at and the 2nd house I intend to purchase will be equal to or less than the value of my current home.

I want to start a business calling home owner in forecloser and offer them a hard money loan from a lender.?

Editor — Mon, 30 Aug 2010 04:35:21 +0000

Dose anyone have any insight on this?

What is the lowest credit score I can have to qualify for a home loan?

Editor — Mon, 30 Aug 2010 02:48:37 +0000

I can put a large down payment on a house, but have low credit. Is it possible l might still qualify for a loan?

Which credit bureau is the most popular to use by home loan lenders?

Editor — Sun, 29 Aug 2010 19:49:00 +0000

I know the three…Experian, Equifax and TransUnion, but rather then checking all three I was advised that essentially loan/mortgage officers typically use only one to check eligibility for a home loan. What is the most popular credit bureau used? I am in the process of looking for a home, and want to make sure I know which score will be pulled considering all three have different scores.

Thanks!!!