Home Equity Loans Arizona

I am not sure whether to refinance with debt consolidation, cash out or a home equity loan or line of credit.

I am looking to get a loan for a modular home and a piece of land. We would need about 250,000. My husband claimed bankruptcy in 2001 before we were married. I have good credit and make close to $60,000. However, I do have a few credit cards and a student loan to pay. He makes about 35,000, has limited credit cards and a car loan. For the most part we both pay our bills on time. Do you think the bank will even consider giving us a loan?

Are the terms interchangable or are they two different things?

A couple of years ago, my spouse and I doubled the size of our home which we had owned “free and clear.” To do so, we took out a 20 year home equity loan for $250,000 at a rate of 5.85%. Since we already owned the home and this was technically not a mortgage, there was no downpayment on this loan. With rates coming down, do we have any hope of refinancing our home equity loan? Or, is refinancing basically restricted to mortgages? Thanks.

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I’m a first time buyer and am trying to get qualified for a home loan. I’m scared that if i go to the wrong banks they’ll just keep runing my credit and lower my score so i want to go to one bank and run it only once hopefully. I have a 689 and am waiting to get it to at least 700.

My current rate is near 10%, and I’d like to find a HELOC rate of prime minus 1%, no fees, and accepting a LTV of 90%

And if you had, did the mortgage people had to issue themselves the checks to the credit cards or you did? Thanks.

I am submitting this question on behalf of my friend, whose wife has take loan from B of A to buy a house 1 and half year back and now she sent a letter to modify her loan. Because there have been several changes to her financial situation which are making her mortgage payment difficult. If nothing is done to change her present loan, she will eventually default. Originally she had intended to make payments towards the principal on her loan, but due to her current income she is paying interest-only and having to pull money from an account that was supposed to be for retirement just to meet living expenses. Despite paying for 1 ½ years and putting in a $30,000 down payment she had no equity. She is paying interest-only because she can’t afford her house. If it was possible she would sell the house and move into something more affordable, but in this market a sale would not bring what she owe on the house.

The Bank did not respond to her letter. Is there any thing her husband can do in this regard? Bank do not attend her husband call because this loan is taken by his wife. Is there any modification plan or short sale, they can qualify and how. Is there any legal Loan Modification agency in Arizona, who can help them to modify the loan. Your positive answer will be greatly appreciated and it will also help those who are in similar situation. Thank you.

Product Description
Several years ago, I realized that there were many people who were interested in purchasing a home but had no idea where to begin. I spent countless hours and many evenings away from home helping these individuals understand the home buying process and its intricacies. There are not classes taught in high school or college that teach people the facts or procedures of arguably the biggest financial purchase in ones lifetime. Thus, I decided that with the wealth of experience and knowledge I had accumulated over the previous 12 years, I would finally put this information in plain and simple English for anyone to access. I have seen almost every situation imaginable and thought that it would be wonderful to put a … More >>

Makers & Breakers: A Simple Guide to a Successful Mortgage Loan