Question by jmpoct03: is there a place that offers home equity loans to people that have bad credit?
my boyfriend and i own our home with no mortgage. we have around $ 76,000 of equity in our home but have bad credit. is there somewhere we can go for a loan that works with the better business bureau. i want to make sure its legit.

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Question by redheadedstepchild: Is it futile to search for lenders that do “true” Debt Consolidation LOANS??
I have been searching for almost two months to no avail. Are there no legitimate lenders that perform Debt Consolidation Loans? I am not looking for a Home Equity Loan, I mean a loan to “replace” my high interest loans and credit cards with one affordable monthly payment?

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Article by Lisa Jones

Refinancing allows homeowners to tap into the equity in their homes for home repairs, debt consolidation, real estate investment, new businesses, etc.

Homeowners can get cash in three ways as follows:

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Article by IPRWire Staff Writer

If you are searching for a Texas home equity loan, you are probably wondering where you should go and whether it is really right for you. Many consumers feel this same way and are not sure what the advantages and disadvantages may be for them and their specific situation. There are always pros and cons, and the whole idea is that you need to weigh them and then find the right resource to turn to, to help with the whole process.

It is important to understand that there are options out there. A Texas home equity loan can come in the form of a line of credit or a fixed loan. The line of credit is nice because you can borrow only the amount that you need so that you only have to pay interest on the dollar amount that you have borrowed. The funds are also more easily accessible, which is nice for most people. An added bonus is that the interest that you do pay on the dollar amount borrowed may be tax deductible! Of course, there are some things that you must consider about the line of credit, such as the fact that the rates can change and the interest rates may be quite high. Because interest rates can change, your payments can change, which affects the affordability of the option to you. This option may also make it more difficult if you choose to refinance the mortgage while you are still paying off your credit.

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Article by Rachel Gawith

While equity release schemes are available for just about anyone if they have sufficient equity in their property and want to release some money for maybe home improvements, a once in a lifetime trip around the world, a daughter’s wedding for example, there are special home equity loans available through the Government to enable first time homebuyers to get on the property ladder.

These equity home loans work as a type of mortgage but certain conditions must be met to qualify for such a loan. These loans are only available to first time buyers or people in Council housing or renting a house from a Housing Association. The combined household income of the buyers must not exceed £60,000. If you are a single person then just your income is taken into account, but if you are a couple then it will be the income you both receive. And you must live in an area where it would be impossible for you to afford a property through the usual channels. In other words an equity loan form the Government is the only viable option to purchase a home. Only new build houses are available on the scheme and only certain housing developers are involved in the schemes so the selection of homes available on the equity home loan scheme is restricted.

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Article by Carrie Reeder

The internet makes applying for a home loan simple and convenient. If you own a home, you have several options for acquiring extra funds for large purchases. Home equity loans are extremely useful and may help improve a homeowner’s credit rating. If applying for a home equity loan, take advantage of online lenders.

Why are Home Equity Loans Beneficial?

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Question by ja: I have a house worth about 00 and I have bad credit.Will i qualify for a home equity loan?
I live in Texas.I need to do home improvements.
its not a trailer.I dont have any credit cards either.
I don’t owe it
I believe that s how much its worth because thats what my tax statement says.Is this the value?

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Question by : Could you tell me that how do I Refinance my home equity loan?

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Answer by SumDude
You apply, pay the fees, and go through the process to get a fixed rate loan {if that is what you want, or ARM} to replace the HEL that you have. You can do that at the bank that has your HEL, or pick another bank or mortgage company. {Of course, you have to qualify, etc….}

Most floating rate HELs are quite low right now, but so are fixed rates, so you seem to be making a good move. Consider a 15 yr mtg if you can cover the monthly payments to get an even lower interest rate and save even more on interest.

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Question by SadToday22: I filed Chapter 7 bankrupcy recently but my mortgage company’s representatives were not there…?
so my home was not “reaffirmed” in court like my car was. Anyway, I have filed for a Loan Modification program (that is currently under review) and my payments are up to date on my mortgage. Is there any way they will try to take my home from me? It’s about -$ 25,000 negative equity. I call them all the time (Wells Fargo) and they are taking my payments just fine, so I think everything is okay. My lawyer said it’s ultimately up to the mortgage lender but we should be fine. What do you think?

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