Home Equity Loans Arizona

I have bad credit and bought a rundown property and fixed it up over time. I used my own money in financing the purchase of the property and have no mortgage. Is it possible for me to get an home equity loan for this property? its market value is around $120,000 and its assessed value is $50,000. Thanks for any input.

I have a second Mortgage of 33K at 7.5%. Open credit limit. Car loan 20K at 7.1% 6 years left .Visa 13K-13%. This will last forever.School loan 6,500 6.9%. Should I borrow 100K at 5.99% for 15 years and pay off all creditiors and put the balance on my morgage that I owe 50K with 7 years left?

A couple of years ago I tapped into the equity of my home to the tune of 30,000. Rates remain ok, as they are a couple of points above prime, but i feel as if I am sitting on a time bomb. I am not in the best position to refinanace the house because of the decreased value. How can I transfer that debt to something with a locked interest rate while i pay it down?

Hey!!!

What if I borrow $10,000 from home equity line of credit and dont pay anything for 3 years. Can I do that? Or there must be some minimum interest payments every month / year, etc?

I have a second home that I am trying to sell but if I can’t sell it I am going to have to turn it into a rent house. I have fixed this house up so I have lots of equity in the home. I was just wondering if anyone knows if you can get a Home equity loan or a 2nd mortgage on a unoccupied home.
and if you can is Lending Tree a good place to go and try to get that type of loan.

my wonderful parents are lending me money to buy a new car, and they plan on borrowing the money from our home equity line. they said the interest rate is much lower, but my mom wasnt sure if they charged interest every year like a normal car loan or if it was ultimately much cheaper. anyone know? first good answer by sunday gets the ten.

If I borrow more than $100,000 and pay off my 1st mortgage, that basically I turn the home equity loan into my 1st mortgage, but I am not sure if I can deduct all interest up to the whole equity amount I borrow. Generally home equity loan can only deduct tax for the interest for the loan amount up to $100,000.
I am able to find a home equity loan with zero cost with lower loan rate which is better than any mortgage program I can find in the market.

My husband wants to buy a semi. If we took out a home equity line of credit, our payment would be small. Alot smaller than financing the truck. I am not 100% comfortable with using my home for anything. Does anyone know which would be better?

The house appraises for 111,000. I am looking to add on and other remodel jobs.
Oh yeah, forgot to add that DUH house is paid for free and clear!
Thanks to every one that was smart enough to assume that is what I meant.

We own our house fully No mortgage value approx $550k. We are thinking that we like to retire early to near the beach. Currently we found nice homes with land in that area for $175k. Is it better to get a home equity for the full cost of the Beach home plus any other small debit (approx $75k 2 cars and a timeshare) or continue to pay on the individual debits and add a Mortgage for the Beach house?
The ultimate goal would be to get settled into the 2nd home and then sell the current home pay off the balance and then put the rest in an investment with monthly dividends to use as retirement income until we reach retirement age and also maybe get a parttime job.

My husband and I just purchased our first home. It was a forclosure and we were able to get a good deal and purchase it with an appraised value of $50,000 more than we paid. We have fairly poor credit (the scores are super low, but we only have a few late pays from over a year ago) and are eager to get it cleaned up and stop paying amazingly high interest rates. We have already closed all but 2 open credit lines (the ones we’ve had the longest and have the best rates) and my question is two-fold, how soon after buying the home can we pull out the equity and is it a good idea? We both have stable jobs and make almost $100,000 a year. We are in this house to stay and would really like to make sure our next moves are smart ones.

Thanks!
My husband and I just purchased our first home. It was a forclosure and we were able to get a good deal and purchase it with an appraised value of $50,000 more than we paid. We have fairly poor credit (the scores are super low, but we only have a few late pays from over a year ago) and are eager to get it cleaned up and stop paying amazingly high interest rates. We have already closed all but 2 open credit lines (the ones we’ve had the longest and have the best rates) and my question is two-fold, how soon after buying the home can we pull out the equity and is it a good idea? We both have stable jobs and make almost $100,000 a year. We are in this house to stay and would really like to make sure our next moves are smart ones.

Thanks!

Try to answer the question without being rude and thinking you know anything about my family from reading a paragraph question about home equity.

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I have some bills i would like to pay off but I just refinanced last November. Can I qualify how does it work? Does my morgage payment go up? Thanks